Toure and his representative Dimitri Seluk spoke to Sky Sports News on Friday to confirm the Ivory Coast international's intention to honour his contract - which runs until 2017 - at the Etihad Stadium.
"The fans have always been good to me, they've always been good to my family," Toure said. "I want to stay. I will always honour my contract. I don't think about all this speculation. It's a big pleasure to stay and enjoy the next season."
Toure's agent Seluk sparked speculation about his future just days after City lifted the Barclays Premier League title - claiming Toure was hurt by the club's failure to mark his birthday - despite a video on the club's website showing Toure being presented with a birthday cake.
Further stories followed as Seluk claimed his client had been shown a lack of respect by City, and he was strongly linked with Paris St Germain before, in recent days, rivals Manchester United emerged as another possible destination.
But Toure described the speculation as "disappointing" as he said he owed a debt to City fans.
"Everything is fine now," he said. "There was a lot of speculation, you know. I think sometimes it's quite disappointing. I need to do something for the fans, it's important to let them know. They've done a lot for me. The team is preparing well and we will try to win again next season."
Seluk, who spoke before Toure, had said: "I would like to say Yaya will stay at City. He won't go to any club. Everybody can stop speculation about this.
"Yaya will stay at Manchester City 100 per cent. He has a contract, he will work very hard and I hope this season he will be the best player in England."
Although Seluk is seen as the source of so much of the speculation - something he has a record for starting most summers, even before Toure signed for City - Toure backed his agent.
"He's quite strong sometimes, but he's a very good guy," he said.
"To be honest, we never wanted to talk about money. There are more important things than money. To be happy, healthy. Respect as well is very important."
Seluk was even able to laugh at some of the more surreal stories that have come out in recent weeks.
"I hope now everybody will have a very friendly relationship," he said. "I hope his next birthday they will celebrate together."
Our view: City fans will no doubt be relieved about this news and it does seem like a power play from the Toure camp has backfired. The fact is that he is 31 and would command a big transfer fee and wages – no club was going to fork that out. Instead he needs to settle with the contract that he has got – poor fellow. He is such a good player, City will no doubt find a way to massage his ego a little bit but there must be some concerns going forward about the Ivorian's attitude.
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