Maccabi Haifa midfielder Idan Tal has signed a pre-contract deal to join Bolton on a three-year contract.
Tal made 33 appearances for Everton between 2000 and 2002
Tal, who had a previous spell in the Premiership with Everton as well as playing for Spanish side Real Vallecano, has won 58 caps for Israel.
The 31-year-old will officially join Bolton on 1 July.
"Idan will add extra attacking flair to a midfield that already contains quality," Bolton boss Sam Allardyce told the club's website.
"He reminds me of West Ham's Yossi Benayoun. If he makes a similar impact as he and Tal Ben Haim have then we will have some player at our disposal."
Tal's transfer has courted controversy because of the alleged involvement of agent Craig Allardyce, the son of Bolton boss Sam Allardyce.
Tal played 33 times for Everton after moving to Goodison Park for £700,000 from Hapoel Petah Tikva in October 2000.
Meanwhile, the club is nearing a successful completion to their contract negotiations with keeper Jussi Jaaskelainen, which have gone on for 12 months.
Allardyce believes the 30-year-old Finnish international, who joined the club in 1997, will commit his future to the club after being linked with a move away from the Reebok Stadium.
He said: "The deal with Jussi is very close now. I would have thought it will be done by the back end of this week or the beginning of next at the latest.
"Jussi is one of the players whose value has escalated by being here and they know it, which makes negotiations very difficult.
"We have got on with it the best we can but this has been the longest of the lot."