The agreement, which was reached on Thursday following recent discussions between Everton, LA Galaxy and Major League Soccer, is pending paperwork that needs to be finalised.
Once that is completed, Donovan is set to join Everton over the Christmas period and would be eligible to face Bolton on January 4. The loan deal would last until after the derby against Liverpool on February 25.
Everton boss David Moyes said about the deal:
“I am delighted that we have managed to get Landon back. He will give us some good experience over January and February. He did well for us when he was over two years ago and hopefully will return with those same qualities. His season has just finished and like last time we need him to hit the ground running because the games come thick and fast at this time of year.”
Donovan told evertonfc.com:
“The opportunity to return to Everton and play for such a well-respected club and a manager that I hold in such high regard was something that was simply too good to pass up. I thoroughly enjoyed my time at Everton in 2010 and I’m hopeful that we can experience similar success this time around. I want to thank David Moyes and Bruce Arena, as well as executives from both clubs and Major League Soccer for allowing me this unique and special opportunity.”