Costa has scored an outstanding 30 goals in 40 matches for Diego Simeone's side this season, keeping Atletico in the hunt for domestic and European silverware.
The Spain international scored the only goal of the game against Espanyol on Saturday to keep Atletico hot on the heels of city rivals Real Madrid in the La Liga title race.
And Luis believes Costa's ability to produced a moment of magic when it really mattes is reminiscent of former Atletico striker Aguero - who joined City in 2011 after five years at Vicente Calderon.
"Every time we seem to get stuck, Diego proves to be decisive," he told Marca.
"He always manages to create chances from nothing. I hope he can continue to do the same as if he does he's in for a fantastic career.
"Sometimes his game reminds me of Kun Aguero.
"La Liga is still a competition for just two clubs, although we are trying to do something really great. If we hadn't won against Espanyol, we'd be six points off."
