The Scotland forward is available on a free transfer after his release from Birmingham and could be set for a return to Goodison.
It’s been a quiet summer in the blue half of Merseyside with rivals Liverpool snatching the headlines with their big money buys.
Toffee’s boss David Moyes is actively seeking new recruits and a costless move for the former fans favourite appeals to him.
McFadden left the club three and a half years ago to sign for Brum in a £5 million deal but sat out much of last season with injury as the club succumbed to relegation.
A new contract at St. Andrews wasn’t forthcoming and now a move back to Everton would keep the 28-year-old in the Premier League.
It’s likely that Moyes will be cautious over a player who doesn’t have the cleanest injury record in the world.
Steve Kean is set to rival his Scottish counterpart for McFadden with the Blackburn boss yet to bring anyone in at Ewood Park during the transfer window.
However a move back to Everton, where he spent five seasons, and a reunion with Moyes is the player’s likely choice.
McFadden made 139 appearances in his first spell with the Toffees scoring 22 goals.