City, who won the title in 2012 and 2014, are 12 points clear at the top of the table with 65 points from 24 matches. Second-placed Manchester United are on 53 points.
Chelsea collected 95 points when they became champions in 2004-05, and City will surpass that if they win 10 and draw one of their remaining 14 games.
City’s latest victory came via Aguero’s 11th hat-trick of his City career and his second of the season – he also scored three in the 6-0 win at Watford on 16 September.
The Argentina striker claimed City’s first goal when he got the faintest of touches to head in from Kevin de Bruyne’s goal-bound strike, before he converted a penalty after Javier Manquillo tripped Raheem Sterling.
Jacob Murphy pulled one back with a chipped finish over Ederson, but Aguero powerfully finished after Leroy Sane’s jinking run to seal the victory, his 11th City hat-trick and his second treble this season.
“We need 10 more wins to be champions, and we’ll try for more points,” said Guardiola. “It was an outstanding performance, often against 11 players behind the ball [but] we were patient, and we found the space really well. They crossed the halfway just once and scored, but we’re so happy.”
It was a return to winning ways for Guardiola’s side after they suffered their first league defeat of the season when they lost 4-3 at Liverpool on Sunday.
“We reacted really well after dropping points before,” added the Spaniard. “It’s not how many goals you score, it’s how many chances you create, it’s how many chances your keeper has to save. It was important how we reacted at 2-1 – we didn’t panic.”
City looked on course for a routine victory after dominating the first half and the early stages of the second.
As well as City’s opening two goals through Aguero, they had many other chances with the impressive Karl Darlow twice saving from Raheem Sterling, including a fine stop to push the England forward’s attempt on to the post.
Newcastle had only had 17% possession in the first half, but were given a lifeline when City lost the ball, Ciaran Clark played it forward and Murphy ran through to score a well-taken first goal for the club.
Indeed, the visitors had a chance to equalise with Ederson parrying Mohamed Diame’s effort and then the follow-up from Joselu.
But City killed off any hopes of a Newcastle fightback as Sane’s fine run saw him set up Aguero, who scored for the seventh time in five matches. (Courtesy BBC)