Sky Sports understands Steven Pienaar is undergoing a medical at Everton ahead of his return to the club.
Everton finally agreed a fee with Tottenham for Pienaar over the weekend after weeks of talks between the two clubs.
Toffees boss David Moyes has made Pienaar one of his top transfer priorities this summer after he impressed on loan at Goodison Park during the second half of last season.
Pienaar left Everton for Tottenham in January 2011, but the South Africa international failed to hold down a regular place in the Spurs side.
The 30-year-old moved back to Everton on loan in January and he impressed in scoring four goals in 14 games for the club.
Should Pienaar successfully come through his medical at Finch Farm he will become Everton's second signing of the summer following the arrival of Steven Naismith.