Caleb Sturgis won the team's kicking competition in training camp, although Aguayo did show well for the Chargers in the preseason, converting all three of his field goal attempts. Aguayo made a 26-yard field goal attempt with two seconds remaining to win the Chargers' preseason finale on Thursday against the San Francisco 49ers.
Sturgis, the former Philadelphia Eagles kicker, made two of his three attempts. The Chargers signed Sturgis to a two-year, $4.5 million deal in free agency, including $1 million in guaranteed money.
In 62 career games over five seasons with the Miami Dolphins and Eagles, Sturgis converted 81 percent of his field goals with a career-long of 55.
"We brought Caleb in here to be our kicker," Chargers head coach Anthony Lynn told reporters after the team's final preseason game against the San Francisco 49ers earlier this week. "The last couple of weeks he showed us he could do that with his kickoffs and his field goals."
The Bucs traded into the second round of the 2016 draft to select Aguayo, making him the highest-drafted kicker since Mike Nugent in 2005. A three-time first-team All-American kicker for the Seminoles, Aguayo struggled in his only season with the Buccaneers, however, missing nine field goal attempts and two extra point attempts.
He was claimed by the Bears last year after being waived by Tampa Bay but was released before the season. He later spent time on the Carolina Panthers' practice squad.
Chargers general manager Tom Telesco made fixing the team's kicking situation one of the top priorities this offseason. The Bolts had five different players handle field goals, kickoffs and extra points in 2017, including punter Drew Kaser.
The Chargers finished a league-worst 67 percent on field goals last year.