Toure, 35, endured an acrimonious exit at the Etihad at the end of last season after accusing Guardiola of being a rigid and cruel person - in a rant that hinted at racism.
However, Toure has now lavished praise on the Spaniard for his influence on ''his little brother', who he claimed was lost when he arrived from Liverpool in a reported £51 million (R948m) back in 2015.
The England winger has grown into a key figure within Pep's ultra-attacking squad and has contributed towards 35 goals in 41 games this season.
"He is a top manager. Pep is the type of guy who can take talent and get it to its maximum level," Toure told Daily Mirror.
"Raheem, my little brother, joined when Pellegrini was at the club. Since Pep arrived Raheem is in another world. He is complete.
"Pep has given him the confidence he has needed. When he played for Liverpool I was always scared of him because he is short and so fast, so quick! Him and Suarez and Coutinho? They were unplayable."
"But when he first arrived at City I had to ask myself when it was the right choice for him because he was struggling a lot.
"He had a lot of criticism and it was hard for him. But he continued to work and now he deserves the Player of the Year."
Toure also played under Guardiola at Barcelona and believes that he is improved other players at City.
"Pep came and improved him and Aguero. De Bruyne. Walker who was already a good player became a different class. For players like that, as a manager Pep is fantastic."