The Toffees are stated to be keen on signing Walcott, whose Arsenal career appears to be all but over. He has been limited to starts in cup competitions and is evidently out of favour at the club.
Everton, despite having recently signed Cenk Tosun from Besiktas for £27m, want to add more firepower to the ranks and it seems Walcott is a genuine target.
Southampton want to sign Walcott from Arsenal but it seems Everton are well placed to fend off the south coast outfit, with the Toffees rumoured to be plotting a £20m bid for the England international.
The 28-year-old is said to be earning £120,000 per week at the Emirates, which Everton are willing to match this month if the Mirror are to be believed.