Williams, 21, was born in Liverpool and has come up thorugh the Everton tanks having arrived way back in 2004, but he has yet to make his first-team debut for the Blues.
Last season, the midfielder was sent out on loan to Barnsley in order to gain experience in the Championship, and he racked up 38 appearances as the Tykes were relegated.
Marco Silva seemingly doesn't feel that Williams is quite ready for first-team football with Everton yet, and he is set to head out on loan again this season.
It's claimed that Birmingham City, Bristol City and Hull City have all been attempting to land Williams, but he has snubbed them all in favour of a move to the Macron Stadium.
Phil Parkinson will be delighted to have won the race if reports are true, and their geographical proximity have have just worked in Bolton's favour over clubs further away from Merseyside.