QPR are interested in signing West Ham midfielder Mark Noble, Sky sources understand.
Coventry have signed Bolton winger Sanmi Odelusi on loan for the rest of the season.
Toni, 36, makes the newly-promoted Serie A club the 15th destination of a 19-year senior career that includes notable spells with Palermo, Juventus and Bayern Munich.
Fiorentina became the only club to employ Toni for a second time when he returned to Tuscany last summer but, after scoring eight league goals in 27 league appearances in the 2012-13 campaign, he has now opted to join Andrea Mandorlini's cause at the Stadio Marc'Antonio Bentegodi.
A statement published on hellasverona.it read: "Hellas Verona have acquired the sporting rights of Luca Toni. The striker, born in 1977, has signed a one-year contract."
Toni scored 16 goals in 47 appearances for Italy and was part of the World Cup-winning squad of 2006. His club honours include a Bundesliga title and German Cup with Bayern and the Serie A Golden Boot for his 31-goal haul for Fiorentina in the 2005-06 season.
The Gialloblu have already signed midfielder Massimo Donati from Palermo and defender Alejandro Gonzalez from Penarol in preparation for a first top-flight outing since 2002.
Today also saw Hellas confirm the signings of defenders Francesco Zampano, Filippo De Col and goalkeeper Daniele Borra - a trio of youth prospects from Lega Pro club Virtus Entella.
Toni admitted the challenge on offer in Verona tempted him to sign up for pre-season training instead of enjoying an extended summer break.
He told his new club's official website: "I've signed now and I'm looking forward to next week. I'll start getting to know my new team-mates and looking forward to a great season.
"I think I've had a good career and I'm satisfied with what I've done, so if I keep on going like this then it's because I've still got that desire. I'm excited by the challenge and I just want to keep on having fun.''