Hanni, 28, moved to Moscow last January on a transfer fee reported between €5.5-7.5 million from Belgian club Anderlecht. Hanni has made 31 appearances for the Russian outfit, with six goals and eight assists.
Prior to his time with Spartak, Hanni starred in Turkey and Belgium. He has made the most appearances with Anderlecht, where he had 23 goals and 25 assists in 86 matches. He also has 12 caps with the Algerian national team, scoring four goals.
Toronto have also reportedly signed former US international striker Terrence Boyd from German side Darmstadt.