The Dynamo Kiev star has long been linked with a move to the Premier League, but the 26-year-old is yet to get his move.
ESPN reported in May that Everton were prepared to finally sign the talented schemer, having been linked with him on a fairly regular basis in the past.
But it remains to be seen whether Toffees boss Ronald Koeman - named new Everton boss after that report - wants him at Goodison Park.
But, according to Oddschecker, a switch to the blue half of Merseyside is not impossible as Bet Victor rate them as 4/1 second favourites.
Leicester City have Riyad Mahrez at the moment, but Everton and Liverpool could find room for Yarmolenko.
Everton, who have the likes of Aiden McGeady, Kevin Mirallas and Aaron Lennon, could also do with freshening up their wide options.