Arteta, 42, earned his stripes as a coach under Guardiola, 54 before leaving to become manager of Arsenal back in 2019.
The former midfielder has since turned the North London club into genuine title contenders, although he is yet to get his hands on the Premier League title.
Many had expected Guardiola to leave at the end of this season but he ultimately put pen to paper on a new deal last November.
Aguero, 36, believes Man City will need to look to the future fairly soon, and suggests the club should make a move for one of Guardiola’s most successful disciples.
He told Stake.com: "Pep has extended his contract and Arteta has been doing a brilliant job at Arsenal.
“The point is moot right now, but if what you’re looking for a is forward-thinking answer and whether Arteta could be a good manager for City – I’d say he’s qualified for the task."