The 32-year-old midfielder becomes only the third player, after Nigeria’s Nwankwo Kanu and Jay-Jay Okocha, to receive the honour twice.
Football fans voted for Toure, who first won in 2013, beating off competition from Andre Ayew (Ghana and Swansea), Sadio Mane (Senegal and Southampton), Pierre-Emerick Aubameyang (Gabon and Borussia Dortmund) and Yacine Brahimi (Algeria and Porto) to win the latest honour.
He thanked his fans for their support and promised to keep giving his best.
“I am very proud to be named BBC African Footballer of the Year and would like to thank everyone that voted. I work hard every day to be the best I can be, so to be nominated seven consecutive times and win this award for a second time means a lot to me.
“I would also like to pay tribute to my fellow nominees and this fantastic initiative, which celebrates African footballers – shining a light on our wonderful continent.
“We have so much talent in Africa, so I am determined to continue to achieve on the pitch and use my success to help lead the way for the next generation,” Toure told BBC Sport.
Two of the beaten nominees have won the award before, Algeria’s Brahimi in 2014 and Ghanaian Ayew in 2011. Gabon’s Aubameyang was on the shortlist for the third year running, while Senegalese Mane made it for the first time.