Lennon has impressed while on loan with the Toffees - enough for the Merseyside outfit to express a strong interest in signing him permanently.
But Levy is said to want £10m for the 28-year-old, despite Tottenham deeming him surplus to requirements and Lennon only having a year left on his contract.
The winger, however, will tell the Spurs supremo he is 'keen' to leave north London in a bid to help move the process along, as Everton will be deterred by the suggested valuation.
Meanwhile, the Daily Mail have reported the same line, with the Toffees put off by the hefty valuation of the Tottenham star - only they suggest a figure of £9m as opposed to the Mirror's slightly more expensive price-tag.
Whether Lennon can still deliver in a Tottenham shirt remains a subject of intense debate. Many fans are puzzled as to why boss Mauricio Pochettino allowed the 28-year-old wide man to leave on loan, while others feel he could never achieve the success he is currently enjoying at Everton when at White Hart Lane.