The 17-year-old has signed a three-year contract with the Toffees.
Everton had an initial bid for the highly-rated youngster rejected earlier this week, but they have now completed the signing of the Scot.
Kennedy made 14 appearances for Kilmarnock since making his debut for the club as a 16-year-old.
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Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.