Aguero is the Premier League's top scorer with 12 goals from 13 appearances and he has also netted five times in as many outings in the UEFA Champions League in 2014-15.
Stevan Jovetic, Yaya Toure and Frank Lampard are next in City's scoring charts in the league with three apiece, but Pellegrini has scoffed at suggestions that the champions are a one-man team ahead of Wednesday's trip to Sunderland.
"I don't think Sergio Aguero is our only scoring player," said the City boss.
"He's a very important player. He's the best scorer in the Premier League but I think in this team all the players have been involved in goals last year.
"We have a lot of players that score goals.
"This year is the same thing. In the last three games, in two of them Sergio Aguero didn't score and we won.
"In the game against Swansea he didn't score and also against Southampton he didn't do it, but he was a very important player for the team.
"Inside the team he is a very important player, but this team is not just Aguero."
