Kevin De Bruyne started the rout in the first-half with Gabriel Jesus quickly adding another.
Phil Foden wrapped up the three points after the re-start before Aguero's magical cameo saw him score twice in five minutes.
City made a superb start to a game Pep Guardiola would have been looking to get wrapped up as quickly as possible given the Champions League final is only six days away.
Two goals in the space of three minutes set the tone for the celebratory 10,000 fans inside the Etihad.
SHOP THE PREMIER LEAGUE CHAMPIONS RANGE
The first, on 11 minutes, came after a nice passing interchange between Jesus, Phil Foden and Riyad Mahrez which ended with the latter finding De Bruyne’s run through the middle and given the space the Everton defence allowed him, he had time to tee himself up before firing a low drive into the bottom right-hand corner
The second came on 14 minutes as City crowded out the Toffees on the halfway line allowing De Bruyne to send Jesus away on the left and he cut inside Mason Holgate before curling the ball into the same corner De Bruyne had.
It was Jesus’ 50th Premier League goal and looked to have settled the encounter until ten minutes before the break when Richarlison broke clear and Ruben Dias’ attempt to tackle the Brazilian resulted in a penalty and thankfully no more.
Gylfi Sigurdsson stepped up and Ederson was equal to the task, pushing the Icelandic star’s shot away and the danger was cleared by Kyle Walker – it was Ederson’s first penalty save for three years.
Mahrez almost ended the contest two minutes from half-time, sending a thunderous shot against the crossbar with Jordan Pickford well beaten.
It took the champions just eight second-half minutes to add a deserved third with good work from Jesus and Raheem Sterling presenting Foden with a chance that he tucked past Pickford and into the left corner of the net.
The moment the fans had been waiting for came on 63 minutes when Sergio Aguero came on for Mahrez to a standing ovation from al four corners of the Etihad.
Eight minutes later, our record goal-scorer was at it again, turning Holgate inside out before sending a low shot past Pickford with the outside of his boot to make it 4-0.
Incredibly, he needed just five more minutes to score again, soaring to head Fernandinho's superb cross past the keeper to make it 5-0 and in doing so overtook Wayne Rooney for the most Premier League goals with one club.
Talk about fairy-tales.
It was the perfect finale to a wonderful career with City - with a Champions League final still to come.
What it means…
City win the Premier League by 12 points and go into next weekend’s Champions League final in great spirits.
City wrap up an incredible season in with the most prestigious game in the Club’s history.
We will take on Chelsea next Saturday in the Champions League final at the Estádio do Dragão in Portugal – kick-off 8pm.
Star man: Who else... Sergio Aguero
"Sergio showed in the last decade his instinct is great, it’s fantastic.
“He has this gift that his mum and dad gave him, or God, and he will always have it.
“He’s a funny and humble guy, a good guy, he made an incredible two goals.
“Sergio helped alongside us to bring this club to the level we have now, he’s a special person.
“It was the perfect end and a fairy-tale moment.”
City: Ederson, Walker, Zinchenko, Dias, Stones, Fernandinho (c), De Bruyne, Foden (Rodrigo 56), Sterling, Jesus (Torres 74), Mahrez (Aguero 65)
Subs: Steffen, Ake, Gundogan, Laporte, Bernardo, Torres, Mendy
Everton: Pickford, Holgate, Keane, Godfrey, Digne, Doucouré (Iwobi 57), Allan, Davies, Sigurdsson (Bernard 58), Calvert-Lewin, Richarlison
Subs: Nkounkou, André Gomes, Coleman, Neves Virgínia, Olsen, John
Stats and facts
- Gabriel Jesus has now scored 50 Premier League goals for City.
- City have lost their final league fixture in just one of the past 13 seasons (W10, D2). That was at home to Norwich in 2012-13.
- If he plays, this will be Sergio Agüero's final Premier League appearance for City. The Argentinian is the highest scoring non-English player in the competition's history, with 184 goals.
- City manager Pep Guardiola has won all fiver of his Premier League games on the final day of the season.
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