David Moyes has admitted that he would like to take Asier Illarramendi back to Real Sociedad before the end of the transfer window.
The 24-year-old left San Sebastian for Real Madrid during the summer of 2013 for a reported £28m, but he has failed to establish himself at the Bernabeu.
Speculation has suggested that the midfielder could be on the move again this month, which has alerted the head coach of his former employers.
"I know the player and his qualities well. When I was at Everton I looked at him," Moyes told reporters.
"It seems that Real Madrid don't want to use him and I'd be delighted if he came here, but we need all the information from Madrid so that we can see what might happen."
Arsenal and Athletic Bilbao have also been linked with the former Spain youth international.