Everton want to sign Yarmolenko, who has also been linked with Tottenham Hotspur.
ESPN claimed that the Lilywhites were ready to make a move for the Ukrainian star last week, but it appears as if the Toffees have moved ahead in the race to sign Yarmolenko, and are already in talks concerning his transfer.
There is just over a week of the transfer window left, and Roberto Martinez has done little business to improve his Everton team.
Yarmolenko would add some much needed attacking flair, and it is clear that Martinez considers the 25-year-old a key signing, as he is willing to match the £14 million release clause on his head.
The winger, who is able to play on both the right and left of attack, as well as in the number 10 position, is remarkably talented, and it is a surprise that he has still not left Kyiv this summer.
If Everton can seal his signing, their long wait for serious transfer business will be forgotten, as Yarmolenko is a truly top class player who will be able to move the Merseyside outfit up another level in quality.