The Ivory Coast international equalled the tally??of former Cameroon striker Samuel Eto’o but became the first player to win the title four times in a row.
Toure, 31, saw off competition from Borussia Dortmund’s Gabonese forward Pierre-Emerick Aubameyang, Lille goalkeeper Vincent Enyeama to claim the honour??at an awards ceremony in Lagos.
The award was confirmed by the Confederation of African Football via social media on Thursday evening, and Toure’s club were quick to respond.
“Congratulations to YayaToure, CAF African Player of the Year for the fourth successive year,” a statement from City read.
Last season Toure scored 24 goals for City as they won the English Premier League for the second time in three seasons.
After a turbulent summer in which Toure suffered the loss of his younger brother Ibrahim to cancer, he started the season slowly by his own standards but returned to form.
He is currently on international duty for the Africa Cup of Nations Cup in Equatorial Guinea.
Algeria won team of the year after establishing itself as Africa’s top-ranked team in 2014.