He was selected by the New York Jets in the 1st round (10th overall) of the 1985 NFL Draft. He was selected to the Pro Bowl three times. Toon's best year as a pro came in the 1988 season when he led the league with 93 receptions. Toon retired at the age of 29 in 1992 as a result of suffering at least nine concussions over his eight-year career.
In 1995 he was one of nine founding members of Capitol Bank, a local community bank on whose Board of Directors he still serves. He was previously a president of the University of Wisconsin's National W Club, a varsity letter winners club. He also developed AT8 Companies to own, develop, and manage commercial his real portfolio.
Toon is on the Board of Directors of the National Guardian Life Insurance Company (NGL). Toon was presented a ceremonial key to the city by Altoona, Iowa in 1983 which he displays in his basement. He also serves on the Board of Directors of the Green Bay Packers. He is now the owner of one of the largest privately owned and operated multifaceted design / build landscape companies in the Midwest, Olson Toon Landscaping, Inc.
Toon is married to Jane and has three daughters and a son. His son, Nick, was a football standout in high school at Middleton, Wisconsin and played as a receiver for the Wisconsin Badgers, as his father did. The younger Toon was drafted by the New Orleans Saints in the 4th round of the 2012 NFL Draft and currently plays for the St. Louis Rams. His daughter, Kirby, also attended UW–Madison as a preferred walk-on in volleyball. She now resides in Nashville, Tennessee.  His other daughters, Molly and Sydney, also play volleyball. Molly is playing volleyball at the University of Michigan. Toon's youngest daughter, Sydney just finished her varsity season of volleyball at Middleton High School.