The 15-year-old midfielder is regarded as one of the top prospects in the country, and a number of clubs have been tracking him.
But now he is set to join the Toffees in a deal which could eventually rise to £2million.
Bradford City's head of football development Archie Christie confirmed to the Telegraph & Argus that the deal had been agreed.
"This is one of the highest deals ever for a 15-year-old from a League Two club," he said.
"But George is the best I've seen in his position at his age. He could become another Wayne Rooney or Paul Gascoigne."