The Trotters had taken the lead through Swedish sensation Johan Elmander but Agbonlahor netted twice, Kevin Davies scored an own goal and Young got in on the act as Villa ran out comfortable winners.
Davies did score one at the right end for Wanderers but it was too little too late.
The Claret and Blue are now sitting pretty in fourth spot ahead of Arsenal with a trip to West Ham next on the agenda.
Martin O'Neill is likely to be confident of victory in the capital after seeing his young speed demons demolish one of the most defiant defences in the Premiership.
After Elmander had neatly flicked in a near post cross from Davies, Villa took control. Fans must have feared that the woeful home form of the last few weeks would ruin the Claret and Blue's chances of breaching the top four but any worries were to prove unfounded.
Villa hit back and how. Agbonlahor brought a Martin Laursen long ball down brilliantly and fired past the fluorescent Jussi Jaaskelainen to restore parity.
The goal was against the run of play as Bolton had threatened to increase their lead when Gretar Steinsson hit the bar just minutes after Elmander's opener.
Villa took the initiative and took the lead as Davies beat Laursen to a superb Gareth Barry centre but managed to steer the ball past Jaaskelainen.
After half time, Villa continued to conduct proceedings. Agbonlahor added to his sides tally, finishing off a great Young cross with a neat header.
The England striker then turned provider for Young who latched onto a cut back and rifled past the Bolton keeper with the aid of a deflection.
Villa had put the game out of sight and were looking hugely impressive, which hasn't been the case on their own turf recently.
Barry, was in sparkling form as he splayed the ball around with elegance and exuberance. Some of his passing was simply a joy to behold.
Davies did make the score a little more respectable five minutes from time as he again headed in powerfully in front of the Holte End.
That goal may have improved Bolton' day a little but it didn't serve to tarnish Villa's emphatic victory.
It was reminiscent of the opening day triumph against Man City, in which Agbonlahor grabbed a hat trick.
The striker is obviously capable of brilliance and with Young and Barry providing the ammunition, Villa are capable of anything.
Fans will now be hoping that a good home result doesn't mean a bad away performance, such inconsistency has typified Villa at times this season.
But with such skilful players at his disposal, O'Neill must now be starting to believe that consistency is possible and with that a Champions League place could beckon.