Jurgen Klopp's side went down to Manchester City in the decider of the cup on Sunday in what appeared their best chance of winning a trophy this campaign.
Sitting ninth in the Premier League, Liverpool face rivals Manchester United in the last 16 of the Europa League.
Toure, 34, feels Europe could be just what his side need to salvage something from 2015-16.
"Winning the Europa League can save the season and the Premier League is not done yet," he said.
"Of course we have plenty of games coming. We have another Premier League game which is very important. We need to digest this loss and then focus for the game because it will be tough.
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"We can get three points against City [on Wednesday]. The final showed both sides can win."
Liverpool missed their chance in the League Cup decider, suffering a 3-1 penalty shoot-out loss after a 1-1 draw through 120 minutes at Wembley.
While Toure praised City goalkeeper Willy Caballero, he said the defeat had hurt.
"It was a bad day and we all feel down because we could have won," he said.
"To lose on penalties is very harsh. City have experience and calmness. Their goalkeeper did amazingly for them.
"When you come back like that, you feel as if you have the chance to win it. We had a few chances, they had a few chances as well.
"They have been in that kind of situation and you only learn by losing those sort of games. You have to learn to lose sometimes before you win. We learn as a team together."