The 30-year-old Manchester City midfielder edged out Nigeria's John Obi Mikel and fellow Ivorian Didier Drogba to make it a hat-trick of wins, emulating Abedi Pele and Samuel Eto'o.
Toure has had a successful year in which he was also included on the 23-man shortlist for FIFA's World Player of the Year.
The former Barcelona man admitted he was proud to win the prize for a third time.
"I am very proud and very happy to receive this award, but would also like to congratulate my brothers, John Obi Mikel and Didier Drogba," noted Toure.
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