According to Liverpool’s official website, the 32-year-old Toure will join Liverpool on July 1 after a "deal in principle" was reached with the Ivory Coast international. and will be registered as a Reds player when his current deal with Manchester City expires.
Toure, 32, will arrive at Anfield boasting a wealth of experience having represented both City and Arsenal in the Barclays Premier League since switching to English football in 2002 and add depth to Brendan Rodgers' defensive ranks ahead of 2013-14.
He'll become the first Ivorian to play for Liverpool when he joins the club.
Toure has been at City since 2009, having played for Arsenal for the preceding seven years.
Toure had become a bit-part player in his final season at the Etihad Stadium, playing only 15 times in City's failed effort to defend their Premier League title.
He will add experience to Liverpool's defensive ranks following the retirement of club stalwart Jamie Carragher at the end of last season.