The Goodison Park club have been keen to re-sign the South African having sold him to Spurs in a £3million deal in January 2011.
Pienaar
When back with the Toffees, he played 14 games and scored four goals in a replication of the form which made him a star on Merseyside in his initial spell from July 2007.
It was previously understood talks over a permanent deal for Pienaar's return to Everton had broken down.
But sources have now revealed a fee has been agreed and the 30-year-old could become David Moyes' second summer signing following the arrival of Steven Naismith.
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