The People says Chelsea will make a £20million-plus move for Aguero - officially the best teenager in the world.
Avram Grant's top spies have now put the South American striker at the top of their wish list, with Didier Drogba hotly tipped to move on this summer.
The 19-year-old, who turns 20 when the transfer window opens, was voted the top player at the World under-20 finals last summer where he was also leading scorer.
Magical Aguero has been on the Chelsea radar for weeks, with Grant receiving rave reviews from scouts in Madrid.
The player was also watched against Bolton in the UEFA Cup when he was sent off for spitting.
Chelsea are convinced the young genius is the star striker they want to land for next season having bagged his Argentina U-20 team-mate and close pal Franco Di Santo for £3million from Audax Italiano in January.