The England goalkeeper has reportedly agreed to terms on a four-year deal, which will include a pay increase.
Pickford's current contract, worth £6m per year, runs until 2027.
As one of the team's most experienced players, Pickford has made 320 appearances for Everton and has not missed a Premier League match since 2022.
He appears to be committed to the team and has given no indication of leaving the club in the future.
