The 29-year-old has just completed his second two-month loan spell at Goodison Park.
Having impressed during his spells with Everton, the American has confirmed that he would like to sign on a permanent basis but not until he leaves LA Galaxy.
"It would be hard to go to any other club now so if anything were to happen I would imagine it would be here at Everton," Donovan told Reuters.
"I know for sure this year I'm going back to LA but we'll see.
"My commitment is for two more years to the Galaxy and we'll see what happens after this year but I would obviously welcome the opportunity to come back."
"There is no question that as you get older your desirability to European clubs diminishes," he said.
"But I still think I can perform at a high level and I think that if guys are doing it at 36, 37, then I hope I can still be doing it at 32, 33."