Watford striker Richarlison has arrived on Merseyside and begun a medical ahead of his proposed move to Everton, Sky Sports News understands.
The 21-year-old, who was signed by Watford last summer when current Toffees boss Marco Silva was in charge at Vicarage Road, returned home early from the club's pre-season training camp in Austria.
The clubs are understood to be finalising a deal and the structure of payments. The fee - reported to be in the region of £50m - would see Richarlison become Everton's club-record signing, overtaking the £45m they paid for Gylfi Sigurdsson last summer.
Richarlison joined Watford from Fluminense for £13m last August and impressed in his debut Premier League season, scoring five goals in his first 12 appearances.
Silva refused to comment on potential signings when speaking to Sky Sports News at Everton's training camp in the Algarve, but he is expecting a busy time in the coming weeks for both incomings and outgoings at Goodison Park.
Everton have been linked with Barcelona defender Lucas Digne and Bordeaux winger Malcom but are yet to sign a player in this transfer window.
There have been plenty of departures though, including Wayne Rooney and Ramiro Funes Mori, and England U21 international Ademola Lookman is also reportedly set to leave the club.
Lookman joined Everton from Charlton for £10m in January 2017 but has made just four Premier League starts and spent the second half of last season on loan at RB Leipzig.
"Definitely I want him to stay," said Silva. "Speculation about players coming in and leaving is normal in football, more in this part of the season.
"Lookman is our player and I want him to stay."