Aguero was ruled out of last week's win over Crystal Palace with a groin injury and can only make the bench for City as they look to secure their place in the Premier League's top four.
Elsewhere, Yaya Toure starts what could be his penultimate match at the Etihad Stadium for City while Fernandinho is preferred to Pablo Zabaleta and Jesus Navas at right-back.
The team is unchanged from last week's 5-0 trouncing of Sam Allardyce's team and is the first time Guardiola has fielded the same XI in consecutive Premier League games.
0 – Pep Guardiola has named an unchanged line-up in consecutive Premier League games for the first time. Trust.— OptaJoe (@OptaJoe) May 13, 2017
Leicester, meanwhile, are without both Wes Morgan and Robert Huth, meaning Christian Fuchs deputises at centre-back alongside Yohan Benalouane.
That alllows Ben Chilwell to come in at left-back while Andy King replaces Danny Drinkwater, who has been ruled out for the rest of the season through injury.
Manchester City: Caballero; Fernandinho, Kompany, Otamendi, Clichy; Toure; Sterling, De Bruyne, Silva, Sane; Jesus.
Leicester City: Schmeichel; Simpson, Benalouane, Fuchs, Chilwell; Mahrez, King, Ndidi, Albrighton; Okazaki, Vardy.