Monchi's transfer business has delivered three straight Europa League titles to Sevilla
Monchi, who has overseen the signings of Dani Alves, Ivan Rakitic and countless others during his 16 years in the role, is said to be pursuing a fresh challenge.
European heavyweights Real Madrid and Manchester United have both been linked with the 47-year-old's services, though his sudden availability is also reported to have alerted the Red Devils' north west rivals.
The report claims that Everton, who sacked head coach Roberto Martinez last month, have already held talks with Emery - the man responsible for Sevilla's on-pitch success over the past three seasons.
Emery's men defeated Liverpool in this month's final in Basel
It adds that the Toffees will look to appoint a sporting director whether they land the 44-year-old or not, and owner Farhad Moshiri will try to tempt Monchi to Merseyside with a £100 million war-chest with which to make the club Champions League contenders.
It is claimed that Everton's chances of landing either Ronald Koeman, Frank de Boer or Manuel Pellegrini as alternatives to Emery will not be affected by their apparent interest in Monchi, given his reputation within the game.
Southampton boss Koeman remains a Toffees target, according to the Telegraph
Monchi, who previously spent time in England while studying the language, has netted the Andalusians £152 million profit through player sales.
Rakitic, now of Barcelona, is among one of Monchi's many bargain finds