The 32-year-old aims to use his vast experience to help the Reds get over the departure of the club legend, who retired after 17 years of service at the end of 2012-13
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"My experience will of course be important," Toure told the press.
"I know Jamie Carragher was a really important player for this club and he has retired now. I think Liverpool look for somebody who can replace him. He was a big player for us.
"To replace Jamie Carragher is unbelievable. He was a fantastic player for England and this football club, a great leader. I will do my best."
The former Arsenal centre-back joins Simon Mignolet, Iago Aspas and Luis Alberto as new arrivals at Anfield this summer.