Despite Sunderland being relegated from the Premier League this past season; Pickford was one of the bright sparks in the side and even managed to earn himself a nomination for the PFA Young Player of the year award, which was won by Dele Alli.
England kick-off their campaign on Friday, and Everton are hoping to have the deal signed, sealed and delivered before the tournament gets underway.
"It's a great club, a massive club and I think it's a great opportunity and the right time for me to come to Everton and show what I can do", Pickford told the club's official website.
Speaking about his previous experiences of Goodison Park, Everton's record signing said: "I remember playing (at Goodison Park) on my first game back from injury last season for Sunderland".
Pickford signed his first professional contract with Sunderland in 2011. It's definitely a good investment though, because Pickford can offer years of service to the Blues and is bound to be an England No 1 in the not too distant future.
Everton coach Ronald Koeman spoke of his delight at bringing in a goalkeeper tipped for an excellent future.