The LA Galaxy and USA star had a two-month stint with the Toffees early in the year and was very impressive during his stay.
The 28-year old is attracting interest from several European clubs including Manchester City but after calls for him to return to Everton by boss David Moyes and many Everton players, Donovan is now pondering a permanent move to Goodison Park.
"We hear little bits and pieces here and there," said Donovan. "There have certainly been clubs that are interested but right now it's only preliminary. I think there's still a lot of times in the transfer window so we'll see what moves are made and if it's serious then we'll treat it seriously. Anything is possible.
"I would love to go back to Everton. I love the people there, I love the fans there, but that said I love being in America too, so we're going to take everything into account and see where it ends up."