2016 Toronto FC season
The 2016 Toronto FC season was the 10th season in club history. Toronto FC finished 3rd and qualified for the playoffs for the second consecutive season. By defeating the Philadelphia Union 3–1 in the Eastern Conference Knockout Round, the club earned their first ever playoff victory, and by defeating New York City FC 7–0 on aggregate, they reached their first ever Eastern Conference Final against their Canadian rivals Montreal Impact. The club set a BMO Field attendance record of about 36,000 for the second leg of the Conference Final as the club was able to use temporary seats in the south end that were originally installed for the 104th Grey Cup. Montreal won the first leg of the Conference Championship, 3–2 at the Olympic Stadium in Montreal on November 22. Toronto later beat Montreal 5–2 in extra time in the return leg at BMO Field in Toronto on November 30, winning on an aggregated score of 7–5, making Toronto FC the first Canadian team to compete in an MLS Cup Final. On December 10, Toronto lost the final at BMO Field in front of another record-breaking 36,045 fans, to the Seattle Sounders 5–4 on penalties following a goalless draw after extra time.
Background
During the 2015 season, Toronto FC finished sixth out of ten teams in the Eastern Conference. They qualified for the playoffs for the first time, losing 3–0 in the knockout round to the Montreal Impact.Roster
Current roster
As of December 1, 2016.Transfers
In
| No. | Pos. | Player | Transferred From | Fee/Notes | Date | Source |
| 3 |  Colorado Rapids | Free Transfer | ||||
| 33 |  Vancouver Whitecaps | Acquired for 2016 MLS SuperDraft 2nd Round Pick | ||||
| 7 | Portland Timbers | Acquired for a conditional 2017 MLS SuperDraft 2nd Round Pick & targeted allocation money | ||||
| 1 | Colorado Rapids | Acquired for a 2016 MLS SuperDraft 3rd Round Pick, a conditional 2017 MLS SuperDraft 1st round pick & targeted allocation money | ||||
| 9 | Maryland Terrapins | Selected 9th overall in the 2016 MLS SuperDraft | ||||
| 11 | Toronto FC II | Free Transfer | ||||
| 48 | Toronto FC II | Short-Term Agreement | ||||
| 87 |  Boluspor | Free Transfer |
Draft Picks
Draft picks are not automatically signed to the team roster. Only those who are signed to a contract will be listed as transfers in. Only trades involving draft picks and executed after the start of 2016 MLS SuperDraft will be listed in the notes.| No. | Pos. | Player | Previous Club | Notes | Date | Source |
| 9 | Maryland Terrapins | MLS SuperDraft 1st Round Pick | January 14, 2016 | |||
| Rutgers Scarlet Knights | MLS SuperDraft 3rd Round Pick | January 19, 2016 | ||||
| UMBC Retrievers | MLS SuperDraft 4th Round Pick | January 19, 2016 | ||||
| Penn State Nittany Lions | MLS SuperDraft 4th Round Pick | January 19, 2016 |
Loan In
Out
| No. | Pos. | Player | Transferred To | Fee/Notes | Date | Source |
| 1 |  Ross County | Contract Expired | ||||
| 34 |  Órdenes | Contract Expired | ||||
| 11 | San Francisco Deltas | Contract Expired | ||||
| 55 | Rayo OKC | Contract Expired | ||||
| 12 | Orlando City | Option Declined; Traded for a conditional 2017 MLS SuperDraft 4th Round Pick | ||||
| 41 |  Valenciennes | Waived | ||||
| 22 | Waived | |||||
| 26 | Houston Dynamo | Traded for a conditional 2017 MLS SuperDraft 2nd Round Pick | ||||
| 16 | Seattle Sounders | Waived | ||||
| 24 |  Nottingham Forest | Mutual Termination |