Toure has been without a club since December when Greek side Olympiacos terminated his contract.
After failing to catch on with another club, it appears the Ivory Coast international will explore the possibility of becoming a coach. His agent, Dimitri Seluk, told Russian website Sport24 on Friday that his client will work on attaining his license this summer.
"The farewell match which Manchester City gave him was, in principle, the real end of his playing career, not only in that team, but in general," Seluk said, according to BBC Sport.
Seluk added: "Yaya is one of the best players in Africa and had one of the brightest careers in the history of African football, so should leave football at its peak.
"Of course every footballer wants to play as long as possible and in terms of his physical condition Yaya could do this at a sufficiently high level for another five years."
Toure, a four-time African Player of the Year winner, claimed nearly every major trophy during highly successful spells in Spain and England.
After joining from Monaco in 2007, Toure played a key role for a dominant Barcelona team that won the league title twice, the Copa del Rey, and the Champions League.
He enjoyed similar domestic success upon his arrival at Manchester City, helping the club end its top-flight title drought in 2012. He'd hoist the Premier League trophy on two more occasions before his departure last summer.
Toure also appeared in three World Cups with Ivory Coast and won the Africa Cup of Nations in 2015.