Aguero injured his knee after being tackled by Southampton defender Nathaniel Clyne during City's 3-2 opening day victory at the Etihad Stadium, and is expected to be out for around one month.
But more positive news for City boss Roberto Mancini is the form of Tevez, who returned for pre-season training looking leaner and hungrier than last season, when he infamously spent months at home in Argentina after allegedly refusing to come on during the club's Champions League group stage defeat to Bayern Munich.
The former Manchester United striker scored against the Saints, and Redknapp believes having a fit and firing Tevez in his attack will more than compensate Mancini for the loss of Aguero.
|25/1||Carlos Tevez is 25/1 with William Hill to score a hat-trick for Manchester City against Liverpool|
"But now Aguero will be missing for the next month or so, Tevez finds himself as the main man once more and I believe he will relish that responsibility.
"When this player is on the pitch he works his socks off like you wouldn’t believe.
"He’s always on the move, never giving defenders a minute's rest and with a real eye for a gap — and a goal."So as important as Aguero is to City, they will certainly be in safe hands while he is on the sidelines thanks to Carlos."
Redknapp also argues that the timely return of Tevez for the business end of City's maiden Premier League title-winning campaign might just have helped Mancini avoid the sack.
"When you look at what has happened at Manchester City over that time, there’s a good case for suggesting Roberto Mancini is actually still in a job thanks to the Argentine striker," he insisted.
"Before Mancini swallowed his pride, bit the bullet and brought Tevez back into the team, City were in serious danger of blowing it again last season.
"And I don’t care what people will tell you to the contrary, if they had lost the title having been in such a strong position for so long, there’s absolutely no guarantee the manager would have survived."