The two clubs have agreed a fee reported as £8.6 million in the press.
“Everton are in the top five and have a real chance of playing in Europe next season. From when I was a young boy, I always wanted to play in the Premier League. The fact I am going to do it with one of the biggest teams in the Premier League makes this move even more special,” said Fer.
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The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.
Five English clubs will compete in the last sixteen of the Champions League for the first time ever as Liverpool, Manchester United, Manchester City, Chelsea and Tottenham face some difficult away matches.