This is the second time the Manchester City midfielder will be winning the award after receiving the plaque in 2013.
Yaya Toure first won the award in 2013 (BBC Sport)
During the year under review, the midfielder won the 2015 African Cup of Nations with Cote d'Ivoire.
As captain of the team, he was a key member of the squad,m scoring in the semi-final as Cote d'Ivoire won their first major trophy since 1992.
He however failed to win a trophy with hisPremier League club, Manchester City.
He joins an elite group of players-Kanu Nwankwo and Jay Jay Okocha- who have won the award twice.
He beat the likes of Algeria's Yacine Brahimi, Senegal international Sadio Mane, and Gabon star Pierre-Emerick Aubameyang to win the award.
"I am very proud. To receive this dedication from the fans is unbelievable," Toure told the organisers of the award, BBC Sport.
"Also I want to pay tribute to the other nominees. African football is growing up, becoming much better and we have fantastic young players coming through now."
"I am delighted and very happy. And as an African player, I want to lead all my younger brothers to be successful in the future," he continued,
"When I was a kid I was always dreaming of being an important player. I have sacrificed a lot.
Toure beat the likes of Aubameyang to win the award
"I will continue to try to win a trophy every year, I will fight to win a personal trophy."
Toure is also favourite to win the African Player of the Year award.
The award will be announced at the Glo CAF Awards which will hold next year in Abuja Nigeria.
