Jack Harrison is having a medical at Everton after they triggered his release clause at Leeds. Initially, he will arrive on Merseyside on a loan.
Harrison, 26, signed a new five-year deal at Elland Road in April but the terms included a clause that can be triggered by clubs following relegation from the Premier League.
The former Manchester City forward has missed the start of the Championship season with a hip injury and he has been unable to help Leeds in their opening two matches: a draw with Cardiff City and a defeat to Birmingham.
He was subject to a bid from Leicester City in the January transfer window only for the move to collapse dramatically. Harrison subsequently agreed fresh terms at Leeds.
Everton have also shown interest in Leeds forward Wilfried Gnonto but their offers have not been near his valuation. The Italian has declared himself not ready to play at the start of the season and is subject to possible disciplinary action from his club, who insist he will not be sold.
But Everton switched their attention to Harrison last week. They are likely to sell Demarai Gray, who has been subject to approaches from Fulham, who won at Goodison Park on the opening weekend of the season.
Harrison would be Dyche’s most high-profile summer signing, with Ashley Young arriving on a free transfer and young striker Youssef Chermiti bought from Sporting Lisbon for about £15 million.
“He is a young player, he needs to get fit – as in, properly fit, as in Premier League fit,” said Dyche on the arrival of Chermiti. “He is a young player, he is a young talent, we have got to develop him.
“If he surprises us and he is ready straight away then that is great, but he is here to continue learning his game in the Premier League.”