Aguero left the Etihad last summer to complete a move to Barcelona but played just five games for the Spanish club before he was forced off during just his fifth appearance.
It was later confirmed that the 33-year-old had a heart condition, and in an emotional press conference last month, Aguero tearfully announced his retirement from the game.
According to The Sun, his former club are looking to step in and hand him a role which will see him remain in football.
The publication reports that he is set to be offered a role as a club ambassador, alongside the likes of City icon Mike Summerbee as well as fellow title winners Joleon Lescott and Micah Richards.
Aguero scored 260 goals for City and lifted the Premier League trophy five times during his time in England.
