Talks have been on-going for weeks now to bring the South African back to Goodison Park, and the deal now appears close to completion.
Pienaar left Everton for White Hart Lane in January 2011 for £3million but returned to Merseyside this January after a lack of first team opportunities under Harry Redknapp.
Rumours were circulating that new Spurs coach Andre Villas Boas may wish to keep hold of the 30-year old, especially if key man Luka Modric were to leave the club.
With talks being dragged out, Sunderland and Queens Park Rangers were believed to be prepared to step in and make a move for Pienaar, but his wish of a return to Everton appears to be on the brink of completion.
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