The 33-year-old striker was released by Chelsea at the end of last season and had been linked with Everton's Merseyside rivals Liverpool before they sealed a surprise deal for Mario Balotelli.
Toffees boss Roberto Martinez then stepped in to add the Cameroon international to a forward line that is led by another Stamford Bridge recruit in Romelu Lukaku.
The former Barcelona player scored 12 goals for Chelsea last season, including a hat-trick against Manchester United, but saw his relationship with Jose Mourinho placed in the spotlight when the Portuguese questioned his age in leaked footage from a French television interview.
He could now make his Everton debut against Mourinho and his former team-mates, with the sides due to meet at Goodison Park on Saturday.
Martinez had been on the lookout for experienced options up front, with Arouna Kone's long-term lay-off leaving him short of cover.
"I met him and we had a very good chat about football in general and I was impressed about the hunger he still has," Martinez told Everton's official website.
"For someone who has achieved nearly everything, he still has the desire he had at 15 when he went to Spain and showed what he could do
For many reasons he has got a point to prove.
"We are very excited and I think Everton is the perfect home for him
The fans will make him ready and feel sharp but we have got to be a bit patient with the fitness levels and make sure he is back to his best."
Eto'o - Cameroon's record goalscorer - claims that Martinez was a key reason behind his decision to sign for Everton.
"I am very happy to be here, I am looking forward greatly to putting on the Blue shirt of Everton," he said.
"I have been very impressed by the style of play Everton adopt
I could see straight away that at this club I will have the opportunity to play football
I had the chance to speak with the manager over the last few days and we agreed that this was what we would do.
"I was impressed with his enthusiasm but also by the knowledge of football that Roberto Martinez carries, his vision of football and how he reads football
I still think I can learn a great deal from him here."
Source : PA
Source: PA