City have underperformed in the competition, falling to Barcelona in the round of 16 last season and failing to reach the knockout stages of the competition for the previous two campaigns.
Toure has recently ended speculation about his future at the club and confirmed he intends to be with them for the long term, with his focus now on helping City retain their Premier League crown and improve in European competition.
"We know the Premier League will be difficult but I am focused on Manchester City now," he told Sky Sports News HQ.
"We must try to retain the Premier League but we know it will be difficult.
"With Chelsea, Arsenal and (Manchester) United, it is going to be very difficult, very tight.
"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."
Watch Manchester City's first game of the season against Newcastle, live on Sky Sports 1 HD from 3:30pm on Sunday. You can also see how they get on in the Champions League this season on Sky Sports 5 HD.