Everton have completed the loan signing of 21-year-old Portuguese midfielder Manuel Fernandes from Valencia.
Fernandes spent part of last season on loan at Everton
Fernandes underwent a medical on Friday and could make his debut against Wigan in the Premier League next weekend.
Fernandes spent the second half of last season on loan at Goodison Park from Portuguese giants Benfica, but left to join Spanish side Valencia in August.
He made 11 appearances for the Toffees last season and had been expected to make the move permanent.
The deal was complicated by the fact that Fernandes was part-owned by a third party, the Global Sports Agency.
That caused problems for the Premier League, which was clamping down on all third-party transfers in the wake of the Carlos Tevez affair, but his £12m move to Valencia appears to have cleared up the situation.
Fernandes, who also spent time on loan with Portsmouth, caused controversy when he turned Everton down last year, despite assuring manager David Moyes that he would join the Premier League side.