Everton are set to announce Carlo Ancelotti as their new manager later this week, according to Sky Sports News.
The former Bayern Munich, Chelsea and Real Madrid boss arrived in Merseyside on Monday to begin discussions with officials at Goodison Park over the vacant position.
It is reported that Everton will officially confirm the appointment on Thursday or Friday this week, meaning the Italian's first game in charge of his new club - his 10th overall - will be at home to Arsenal on Saturday.
Ancelotti was relieved of his duties as Napoli manager only last week - with Gennaro Gattuso installed as his replacement.
The 60-year-old already has experience of success in this country after winning both the Premier League and FA Cup during a two-season spell at Chelsea between 2009 and 2011.
Duncan Ferguson remains in caretaker charge for Wednesday's Carabao Cup fixture against Leicester.
Despite picking up four points from a possible six, Ferguson has expressed his desire for the Toffees to make a world-class appointment.
"I don't want to get drawn into names, but all these guys are fantastic managers - great, great managers," Ferguson said.
"Hopefully the club will find the right one. We want the best managers in the world managing our football club."
There have been calls for Ferguson to get the job on a full-time basis following his early impact.
An injury and illness hit Everton squad earned a 1-1 draw with Manchester United last time out, but questions have been raised about the caretaker manager's treatment of Moise Kean.
Ferguson substituted Kean off in the 89th minute - just 19 minutes after bringing him on.
He insisted though that the decision wasn't a personal one but a game management tactic.
"It wasn't because of Moise Kean's performance it was just because I needed to make a substitution to kill a bit of time," he told Sky Sports.
"I've got so many strikers on the bench, I just decided to make that change.
"It was nothing against Moise Kean really."
