Ivory Coast's Toure was part of the Manchester City side that won the Premier League while Drogba inspired Chelsea to the Champions League, scoring the decisive penalty against Bayern Munich.
Ivory Coast lost to Zambia on penalties in the African Cup of Nations final.
The other three are Dede Ayew of Ghana, Senegal striker Demba Ba and Alex Song of Cameroon.
Five players were cut from an original list of 10 named earlier in the month by the Confederation of African Football (CAF). It is likely the nominees will be cut to just three finalists before the award is handed over in Accra on Dec. 20.