The Senegal international striker has been brilliant for the Principality outfit since joining in 2011.
He is currently top scorer in Ligue 2 with 16 goals, which follow on from his 10 goals in 17 appearances last term.
Toure has been linked with a move to the Premier League, with Reading and West Brom reportedly interest last month.
However, Monaco are well placed - eight points clear at the top of the table - and Toure is happy to stay put.
"I love it here at Monaco, I have settled well here and the team spirit is fantastic so far," he said.
"There are clubs after me, I am aware of that but to be honest I want to stay here and continue to score goals for Monaco."