The City midfielder thinks that it is vital for the club to improve on their position last season after being knocked out by Barcelona.
Toure told reporters: "We must try to retain the Premier League but we know it will be difficult.
"Hopefully at the end of the season we will have the trophy but we have the Champions League as well. It is very important for the club and we have not done so well in the last two seasons.
"It is important we do better than last year and try to make the quarter-finals."
Toure, 31, has made over 130 appearances for Manchester City, scoring 38 goals.
The Ivory Coast international joined the Premier League champions from Barcelona in 2010.