The 24-year-old Scottish born Republic of Ireland international has impressed since following Roberto Martinez from Wigan Athletic to Merseyside and has been the subject of interest from Tottenham, Arsenal and Man United over the past year (via the Daily Mail).
Last season proved a frustrating one for Everton, their Premier League campaign derailed by their involvement in Europa League activity, leading to the Toffees finishing in the bottom half of the table for the first time since 2006.
The Daily Star claim Tottenham are keen on McCarthy and White Hart Lane boss Mauricio Pochettino has already offloaded a number of central midfield option this summer.
The Argentine found buyers for Paulinho, Etienne Capoue and Lewis Holtby, leaving room for a possible summer addition to boost his midfield ranks.
James McCarthy first emerged at Hamilton when the combative youngster secured his debut for the Scottish side at the age of just 15 and the Glasgow born starlet moved to Wigan Athletic in 2009.
Everton have seen a number of their top talents linked with summer exits with Chelsea having made an offer for defender John Stones (via the Daily Express) whilst Belgian winger Kevin Mirallas has been linked with interest from West Ham and Tottenham (via the Daily Telegraph).
McCarthy has made 76 appearances in his two seasons at Everton.