A host of managers have been linked with replacing Roberto Martinez at Everton.
The report claims that Low could be tempted to leave the German national team for a top European club and the Everton project may be of interest with the right financial backing.
Low took over the German senior squad from Jurgen Klinsmann following the 2006 World Cup, and since then he has guided the DFB to a European Championship final plus a World Cup success in 2014.
Despite agreeing a new contract with the national team, speculation suggests his next move would be at club level and it appears Everton may well be the most attractive vacancy open this summer.
The Spaniard hoped an FA Cup success would relieve the pressure somewhat, yet the Merseysiders fell short at the semi-final stage with Manchester United recording a last-gasp 2-1 win.
The report states a windfall in the region of £200 million will be made for transfers this summer by new majority shareholder Farhad Moshiri, and such funds should significantly boost the first-team.
While Low ultimately remains an unrealistic contender, Andre Villas-Boas is also named in the report as another option with the former Chelsea boss set to leave Zenit St Petersburg this summer.
The Portuguese boss has experience in the Premier League with both Chelsea and Tottenham Hotspur, guiding the latter to their greatest ever points tally since the reform of the top-flight.
The 38-year-old would be an interesting option for Everton, though such talk of potential managers remains rather futile with Martinez under contract and intent on staying at Goodison Park.