According to reports coming out of Argentina and Holland, the forward has been involved in an accident involving his taxi and a lamppost.
Early inidications suggest the star has suffered a fractured rib.
Aguero is now set to miss this weekend’s clash with Chelsea.
The striker was in Amsterdam at a concert headlined by Columbian singer Maluma.
The report suggests he was wearing a seat belt, which saved him from more severe injuries.
It is claimed the 29-year-old was on his way back to the airport but has been taken to a local hospital for treatment.
The full extent of Aguero’s injury is still unknown.
However, he looks set to miss the Premier League clash this weekend and Argentina’s World Cup Qualifying ties against Peru and Ecuador at the start of October.
Former club Independiente reacted to the news with a tweet wishing the forward well, saying: “Strength and quick recovery. All Independiente is with you in this difficult time”.
Aguero has scored seven times for Pep Guardiola’s side in all competitions this season.
The news comes after City team-mate Benjamin Mendy revealed he could be out for the remainder of the season after rupturing knee ligaments.
Gabriel Jesus will be expected to lead the City line in Aguero’s absence.