Real Madrid attacking midfielder James Rodriguez is expected to have a medical at Everton on Thursday before agreeing a deal worth more than £20m.
The 29-year-old Colombian played under Everton boss Carlo Ancelotti at Spanish champions Real and Bayern Munich.
Rodriguez, who has been marginalised under Zinedine Zidane at the Bernabeu, has been allowed to miss pre-season training to sort out his future.
It would be Ancelotti’s first major signing since become boss in December.
He has been the driving force behind the deal, with Rodriguez, who is entering the final year of his contract at Real Madrid, attracted by the idea of working with the Italian once more.
Rodriguez won the Golden Boot at the 2014 World Cup after scoring six goals in five games. He then joined Real from Monaco that summer in a deal worth up to £71m.
A three-year contract is under discussion as Everton look to pull off a transfer that would be regarded as a major coup and a powerful statement of intent as Ancelotti moves to reshape a side that finished 12th last season.
Everton have also a agreed a £25m deal with Watford for French midfielder Abdoulaye Doucoure.
The 27-year-old will have a medical before signing a four-year contract with the Toffees, who are also expected to confirm a deal with Napoli for 29-year-old Brazil midfielder Allan.
The Italian club’s chairman Aureolio de Laurentis has said: “We are at the final farewell. Allan will go to Everton.”
Ancelotti made Allan a priority after working with him at Napoli.