Toure has signed a one-year extension to his contract, while Wisdom has committed himself to a new long-term deal.
Centre-back Toure, 34, has clocked up 45 appearances for the Reds since arriving at Anfield on a free transfer from Manchester City in 2013.
England U21 defender Wisdom started out as a trainee at Anfield and was handed his debut by Brendan Rodgers in the Europa League in 2012.
The 22-year-old has made 22 first-team appearances for the Reds and spent last season on loan with West Brom where he played 24 times in the Premier League.
Wisdon previously spent seven months on loan with Derby.