The Reds have revealed they have agreed a deal "in principle" to sign the Ivorian, who struggled for regular first-team opportunities at the Etihad Stadium this past season.
The Ivorian will move to Anfield when his current deal with City expires on July 1 after finding first-team minutes hard to come by at the Etihad Stadium.
The 32-year-old featured just 17 times for City this season following the emergence of young Serbian Matija Nastasic alongside Vincent Kompany in the heart of the defense. Toure’s arrival will help fill the void left by Jamie Carragher, who retired earlier this month after spending his entire career at Anfield.
Toure, who will be separated from brother Yaya with the transfer, brings a wealth of Premier League experience, including winners’ medals with both Arsenal and City, and he formed as part of the Gunners’ legendary ‘Invincibles’ side.
On the international stage, Toure has represented the Ivory Coast more than 100 times and played at two Word Cups, as well as captaining his country.