Aguero has been brought back into the national team set-up following an injury lay-off that ruled him out of qualifiers against Paraguay and Peru last month.
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However, there is no space for City colleague Tevez, with Sabella preferring Palmeiras striker Hernan Barcos to the 28-year-old.
It is another international setback for Tevez, who has worked his way back into Roberto Mancini’s plans at the Etihad Stadium following a six-month exile from the side last season.
And the former Manchester United striker has continued his strong goal scoring finish to last season into the new campaign, netting three times in five Premier League appearances for City.
This has failed to secure him a call-up to the Argentina set-up though, while Newcastle defender Fabricio Coloccini also misses out, alongside Anderlecht’s Lucas Biglia and Inter forward Rodrigo Palacio.
Sabella will name his final Argentina squad for the World Cup qualifying double-header next week after the Argentine Tourneo Inicial.