Goodison officials have already opened talks with the White Hart Lane hierarchy which have been described as “constructive”.
Pienaar spent a frustrating 12-months at Tottenham after moving for £3m in January last year, but returned to Goodison on-loan a year later.
He scored inside five minutes of his second ‘home debut’ against Chelsea and enjoyed a sparkling spell when he belatedly came to regret his move south.
The South African midfielder made it clear he was keen to make his return to Goodison permanent, but Harry Redknapp’s sacking and Spurs’ subsequent search for a new boss complicated the issue.
Villas Boas, however, has told Pienaar he is willing to let him leave and it is now up to the clubs to agree a fee and terms.
It is believed a fee in the region of £5million is close, with Everton confident of completing the move by next week.