It seemed that any hope of signing the player to a Premier League club however had gone last month after he signed a new five-year deal at the Ukrainian side.
However he went on to admit that he could still leave the club and that the new deal was essentially signed to ensure that Kiev received a fair fee for his talents if he does leave, rather than his contract expiring at the end of the season.
Now his manager has admitted that the Everton target could indeed be on his way out at the end of the season.
Serhiy Rebrov is quoted by talkSPORT as stating:
"I can see his progress and that other teams are interested in him but it all depends on his relationship with the president.
"If you are asking me then I don't want to sell the player, I want to keep him in the team but, at the end of the day, it's all about the relationship with the president."
This summer it was Everton who came closest to signing him and most recently Chelsea have been rumoured to be keen.
The Dynamo Kiev star was reported by Sky Sports to be heading to the Premier League and joining Everton.
They reported that a £15 million move had been agreed but then, a matter of days later, Sky Sports claimed Everton’s interest was dead in the water. Everton had started negotiations over a move too late and Kiev refused the deal.
It will be interesting to see whether there is any movement regarding Yarmolenko in January or the summer.