Cannon spent the latter half of last season on loan at Preston and netted eight times in 20 appearances in the Championship.
A host of Championship clubs have approached Everton this summer to sign the forward on loan in the ongoing transfer window.
Preston have been the favourites to take him back to the Deepdale because of their willingness to match Everton’s demand for a considerable loan fee of around a £1m, but other clubs, including Sunderland, are keen.
However, Everton are yet to sanction his loan exit and are yet to make a final decision on his potential departure.
The Toffees are short in numbers up front and are looking to sign at least two more strikers this summer.
Sean Dyche may be unwilling to let Cannon move on loan until his squad’s forward line is reinforced.
The young striker was an unused substitute in Everton’s 1-0 defeat at home to Fulham last weekend.
He is still expected to be loaned out before the transfer deadline but his suitors are being made to wait by Everton.