The Toffees have financial issues, which have limited their spending over the last few transfer windows.
However, the club could get new owners in the coming months and their move to the new stadium is also on the horizon.
Everton are hopeful of having more financial room to spend more money on players in the upcoming transfer windows and are targeting young players.
And it has been claimed Blackburn’s Wharton is still on the radar of the Merseyside club.
A product of the Blackburn academy, the teenage midfielder has started seven of their eight Championship games thus far.
He has been an assured presence in the middle of the park and has attracted the attention of Premier League clubs.
Everton are keeping a close eye on him with their scout Steve Davis watching the teenager in action last week.
Crystal Palace are also interested in him but Blackburn are likely to demand more money than the Eagles can afford.