The 31-year-old, who has been filling in for captain Vincent Kompany throughout his injury battle, comes to the end of his current deal at the end of the campaign.
"I am also leaving in the summer, on holiday," the Daily Mail quotes Mancini as saying. "We don't know at this moment. What is important is that he continues to play the way he did on Monday night and against Chelsea.
"Kolo is a really professional player and deserves to have the satisfaction of those performances. He has done really well and we will see. I am happy for him because he is a good guy."
Toure moved to City from Arsenal in 2009.