Allardyce was due to attend the club's USM Finch Farm training complex this afternoon in order to complete the formalities of a deal that is reported to be worth £9m over 18 months.
Allardyce is returning to management six months after resigning from his post at Crystal Palace, having said at the time that he had "no ambitions to take another job".
Allardyce became the club's new manager on Thursday after signing a £6million-per-year deal
But his seven-game tenure has been little short of disastrous, with Everton losing five games and winning just one. But the chance to turn around Everton's faltering ship has lured him back, and Allardyce is expected to have a watching brief at Goodison Park on Wednesday night.
Despite claiming a 3-2 win over Watford, the Merseyside club suffered defeats to Leicester City (2-0) and Southampton (4-1) in the league while also crashing out of the Europa League thanks to humiliating losses at the hands of Lyon (3-0) and Atalanta (5-1). He will oversee the team's Saturday fixture against Huddersfield.
While Everton spent more than £130 million this past summer on signings such as Gylfi Sigurdsson, Jordan Pickford, Michael Keane and Davy Klaassen, in addition to adding Wayne Rooney on a free transfer, the Toffees have struggled to cope with the exit of leading scorer Romelu Lukaku to Manchester United. But that turned sour after only one match, with Allardyce stepping down in September 2016 following a newspaper sting.
Mike Gundy has been frustrated with Oklahoma State, his new contract
Meanwhile, Gundy just finished his 13th regular season as coach of the Cowboys, who await their bowl game fate this Sunday. A Tennessee Volunteers legend is doing what he can to help the school find a new head football coach.
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