The 27-year-old Argentinian scored 26 goals from just 33 Premier League appearances last season, including four against Tottenham and a hat-trick against QPR.
He added six more from seven Champions League outings, including the memorable hat-trick against Bayern Munich to revive City’s fortunes in the group stage to scoop the award, that was handed out in association with the Official Supporters Club.
He landed the Premier League Golden Boot despite being missing a number of games through injury and drew comparisons with La Liga’s feted duo Lionel Messi and Cristiano Ronaldo at his peak.
The livewire forward also flew past the 100 goal milestone for City
as he continues to etch his name into the history books.
Aguero’s efforts persuaded the City faithful to vote him last season’s star man, ahead of second-placed Joe Hart and third placed David Silva.
Hart won the Golden Glove award for the most Premier League clean sheets and is up for the UEFA save of the season award for denying Messi against Barcelona in the Champions League last 16 - the Barca legend called Hart a “phenomenon” after the game.
Silva scord 12 Premier League goals and provided 11 assists in a typically excellent season.
It’s the second time City’s talismanic striker has won the award with his 30-goal haul during the 2011/12 title-winning campaign helping him to the prize – an honour that has now gone to an Argentinian for four of of the past six seasons.
Carlos Tevez and Pablo Zabaleta won the vote in 2010 and 2013 respectively.
Hart and Raheem Sterling will be hoping to become the first English players to take the prize since Shaun Wright-Phillips in 2004. Michael Brown is the only other English name since 1995.
Richard Dunne remains the record-holder of Player of the Year awards for the Blues with Irish defender winning four consecutive votes from 2005-2008. Joe Corrigan is the only player to have won more than twice after receiving the prize in 1976, 1978 and 1980.
Aguero’s exploits also saw him win the EA Sports Player Performance Index award at City Live, which combines factors such as points won, appearances, goals scored, tackles and assists to rank the stars.