The 28-year old Scotland international has been in talks with the Hoops for the past month but his agent has revealed that the English top flight duo are looking to offer more for the free agent.
"There are little ties with all three clubs - a move to Scotland represents a major personal pull, there's an emotional link with Everton and he's enjoyed working with Mick McCarthy," he said.
"There are a host of clubs who want James. No decision has been made, we're still going through the process.
"It's no secret Celtic want him, I won't deny that. It would have been nice, in a perfect world, to have him settled into a club after the international break but it doesn't look like that's to be.
"I hope it will be done by Monday or Tuesday. There's a deal at Wolves if he wants it. James has been to hell and back and the least he can do is take his time and make the right decision." McFadden is returning from a cruciate injury he suffered whilst with Birmingham City in September 2010 but is believed to be close to action and would love to have his future sorted as soon as possible.