Real have held a long-standing interest in Aguero and, prior to his move to the Etihad Stadium, were tipped to swoop for the former Atletico Madrid ace.
However, the 23-year-old, who scored the dramatic winning goal in the 3-2 win over Queens Park Rangers to secure the Premier League title earlier this month, insists he is happy at City.
"My future is at Manchester City," Aguero said in The Times. "I want to stay here. My contract has four years left to run and I see myself being here at least as long as that.
"There are always rumours, but there is no truth in them. I am not thinking about moving to Real Madrid or anywhere else.
"City have treated me very well from the very first day I arrived, I'm settled at the club and my family are happy in Manchester, and I want to stay.
"I can win everything that I want to win here. We have won one title now and we can go on to win more.
"Once you have one, you are desperate for the second, the third, the fourth, and it will be the same with us. We won the Premier League title this season. Why shouldn't we believe we can win it in years to come, too?"
Aguero enjoyed a highly successful debut campaign with the Citizens, ending the season with 30 goals in 48 games.
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