Danjuma sensationally turned his back on Everton when Tottenham Hotspur came in with a last-minute bid in January.
The Dutchman opted to join the North London club instead, but endured a frustrating spell which saw him start just one game in his half-season with Spurs.
However, Everton appear to be holding no grudges as Fabrizio Romano claims that a deal has been struck which will see the 26-year-old finally make the Goodison Park switch.
The initial deal to sign Danjuma was made while Frank Lampard was still in charge, but it became complicated when Lampard was sacked after a defeat at West Ham United.
Sean Dyche arrived as manager after Danjuma had already jumped ship to go to Spurs, but the Everton boss now looks set to work him after all.
Despite a frustrating six months last season, Danjuma had enjoyed two very productive seasons, first with Bournemouth and then with the Yellow Submarine.
Danjuma was key in the Cherries reaching the Championship playoffs during the 2020-21 campaign, scoring 17 goals as they ultimately fell short in their semi-final against Brentford, but his fine season earned him a move to La Liga.
A fruitful first season at El Madrigal saw Danjuma help Villarreal to a Champions League semi-final, netting six goals on their run in Europe, as well as another 10 domestically.
AC Milan were also reported to be interested in Danjuma, but with the Dutch wide man on the verge of a move to Everton, the Rossoneri are believed to be pursuing a move for fellow Villarreal man Samuel Chukwueze instead, according to Gazzetta dello Sport.
After the signings of Ben Brereton Diaz and Denis Suarez this month, and the recent arrival of Jose Luis Morales last summer, Danjuma's opportunities at Villarreal have become very limited, and he appears to have fallen even further down the pecking order.
It comes as news intensifies over Demarai Gray's future, with Al-Hilal, Crystal Palace, and an unnamed Premier League club showing interest.
The Daily Mail claims that Everton are looking to recoup £12m if Gray is sold, after signing the Jamaican winger for just £1.7m two years ago.
Gray showed fine form at the recent CONCACAF Gold Cup for the country he has recently switched allegiance to, after helping Everton survive Premier League relegation.
The 27-year-old often filled in out-of-position for Dominic Calvert-Lewin last season, before then going on to register two goals and two assists in five games as Jamaica reached the Gold Cup semi-finals.