"This is where I want to be," said Touré, who will be 34 when his contract expires. "When I first arrived at City, every time I went to sleep I would dream about us winning something; now it is about us being the best team in whatever competition we take part in.
"I will never forget how I have been treated here by the fans, the club and the owners and nothing would give me greater pleasure than to finish my career as a Manchester City player.
"I want to continue winning titles and trophies and continue to make history. I have enjoyed all of my time here and can't wait for the next chapter. This is an incredible club to be part of with fans that support a team to the end whatever the circumstances."
Touré's goals in the club's 2011 FA Cup success and last season's Premier League title run-in were pivotal to City's pursuit of silverware, but while he admits that retaining the title looks beyond Mancini's team, the Ivorian is determined to regain the FA Cup ahead of next week's semi-final against Chelsea.
"It looks likely that we will not successfully defend the Premier League title and that is sad for all of us," Touré said. "But we can still finish second and win the FA Cup for a second time in three years and that is still an achievement for a club that won nothing for a long time.
"We must try to finish on a high note and then start preparing to win more next season. Football is always a challenge and a puzzle to solve. You have to use your skill, intelligence and strength to constantly improve and that is what we intend to do."
With Touré's future secured, Mancini and Begiristain must now resolve the futures of several players entering the final year of their contract.
Gareth Barry, Joleon Lescott and Carlos Tévez have yet to discuss new terms, but while Lescott is expected to leave at the end of the season to play first-team football elsewhere, Mancini is keen to reward Barry with an extension to his deal, which expires in June 2014.
Tévez's future is less certain, with the Argentine unlikely to commit to a new contract, but City are also expected to find it difficult to sell a player who has repeatedly stated his desire to return to South America when his contract expires next year. Touré's brother, Kolo, could be given a one-year extension to his contract when it expires in the summer if he also accepts a reduced salary.
Mancini's position is also by no means certain, with Begiristain and chief executive Ferran Soriano determined to rebuild the club in all departments.
While Mancini retains the support of the vast majority of the club's fans, he remains a divisive character within the dressing room and the extent to which he embraces the Begiristain-Soriano regime will be key to his long-term prospects at the club.
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