The 31-year-old did play 12 minutes in Everton’s 4-2 win over Brighton at the weekend but it was only his second appearance for the club this season.
He is not part of Carlo Ancelotti’s long term plans at Everton and the club have been keen to move him on before the transfer window closes at 11pm tonight.
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It emerged earlier this week that Southampton are working on a deal to take Walcott back to St. Mary’s Stadium before the transfer window slams shut.
And it has been claimed that the deal is almost 90 per cent done and Walcott is on the verge of sealing a loan move to Southampton.
Everton signed Walcott from Arsenal in 2013 and two years later he is on the move again but he is going to back to a familiar setting.
A product of the Southampton academy, Arsenal managed to beat several clubs to the signing of Walcott in January 2006.
Walcott is in the final year of his contract at Everton and he will available on a free transfer at the end of his loan spell on the south coast.