Google Chrome has provision for importing favourites and bookmarks from Google Toolbar. This can be done using the options available as part of Chrome settings.
Click the wrench icon available on the top right corner of the Google Chrome browser
In the Options screen, click Personal Stuff tab then navigate to Browsing data section.
Click Import data from another browser button to launch Import Bookmarks and Settings window
For the From drop down select Google Toolbar as the value and click Import button.
By this way we can transfer Favourites or Bookmarks from Google Toolbar to Google Chrome.