The Ivory Coast international appeared to aim a kick towards Norwich City striker Van Wolfsinkel in the closing stages of Saturday's goalless Premier League draw at Carrow Road.
Van Wolfswinkel reacted angrily to the incident, but the former Barcelona man was not shown a card by referee Jon Moss
And an FA panel have backed Moss' decision to act against Toure, so the 30-year-old will not face a three-match ban.
A statement from the FA read: "The panel were asked to review an incident involving Manchester City’s Yaya Toure during the game against Norwich City on Saturday 8 February 2014.
"In this instance, the panel were not of the unanimous decision that it was an act of violent conduct."
Earlier on Monday, Norwich boss Chris Hughton said he felt Toure could have been sent off for the incident.
Chelsea manager Jose Mourinho also believes Toure was fortunate not to see red and called on the FA to ban the midfielder before their decision was announced.
"If he's not suspended, the message is clear: the players can do what they want if the referee doesn't see," he said.
"If the FA defends football, he would have to be suspended.
"Of course, or it's the same for everyone. If the referee doesn't see, then I can do whatever. It doesn't matter about cameras or others seeing. I can do whatever I want."
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