The 30-year-old wins the award for the third successive year after again shining at the Etihad Stadium for Manchester City
The Ivory Coast international was announced as the winner of the award in a ceremony in Nigeria, beating off competition from John Obi Mikel and Didier Drogba - who came second and third, respectively.
Toure is only the second player to win the award for three consecutive years, with Samuel Eto'o claiming to the prize between 2003 and 2005.
The recipient of the award is decided by national team coaches and technical directors in Africa - with Eto'o the most-honored individual with four.
The 30-year-old already has 13 goals to his name this season, three more than his highest-ever season total, as he thrives under Manuel Pellegrini at the Etihad Stadium.
Toure was also the only African player included on the 23-man shortlist for FIFA's World Player of the Year award.