The young goalkeeper arrives at Goodison Park from League One Oldham Athletic.
New Toffees boss Koeman
The 18-year-old, who hails from Salford, Greater Manchester, signed a three-year-deal with the Toffees on Monday after compensation was agreed with former club Oldham Athletic.
However, it's not only geography that played a part in Renshaw's move down the M62.
"I know about the record of how many players Everton have brought through the academy. That interested me a lot because there seems to be a serious pathway to the first team," Renshaw told EvertonFC.com.
"Every time we played friendlies at Everton, I always used to say the training ground and facilities would make this an amazing club to be at."
All being well, Renshaw, who becomes Everton's first signing of the Ronald Koeman era, will follow in the footsteps of a number of young Toffees talents by gatecrashing the first team party.
England pair Ross Barkley and John Stones are two of the most notable to have made the step up in recent seasons, with Seamus Coleman, who arrived as a 20-year-old from Sligo Rovers, another.
And after the debuts of Kieran Dowell, Tom Davies and Jonjoe Kenny last season, the future continues to look bright at Goodison Park.
Dowell is one of several highly-rated youngsters looking to establish themselves at Everton next season
Like Renshaw, young trio Brendan Galloway, Mason Holgate and Matty Foulds have all arrived on Merseyside from Football League clubs over the course of the past few campaigns.
Galloway (L) arrived at Goodison from MK Dons