The signing will represent a real coup for manager David Moyes who has so far been frustrated in his efforts to strengthen a threadbare side on the verge of a Premier League and Uefa Cup campaign.
Baines, who is a boyhood Liverpool fan, is expected to take the number three shirt vacated by Gary Naysmith earlier this summer.
It is not yet understood whether or not he will be in contention for saturday’s league opener against the Latics due to a supposed thigh strain.
Everton also hope to follow up this signing with further additions; Johann Vogel still craves a move to Goodison Park and Lucho Gonzalez is said to be mulling over offers from several clubs including Everton.
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