The 25-year-old still has three years remaining on his contract at the Hill Dickinson Stadium but after an impressive World Cup campaign for Senegal which saw him score once and adding two assists, Al-Hilal are keen on the forward.
Transfer guru Fabrizio Romano claims that Ndiaye is open to the move as discussions begin this week over the financial side of the deal.
"Negotiations at early stages but Al Hilal want one more star after Summerville and Iliman is high on the shortlist.
"Deal depends on #EFC as player side open to initial discussions."
Al-Hilal are believed to be determined to add another star this summer after agreeing a deal with West Ham United for Crysencio Summerville in a £68M deal that may help the Hammers bounce back to Premier League next season.
Manchester United and Aston Villa have also been linked with the winger but no solid talks have taken place between the Premier League rivals who are watching on as Al-Hilal make their move.
In 32 league appearances last season, Ndiaye picked up 6 goals and 3 assists, and he remains one of Everton’s most important players under manager David Moyes heading into the new campaign.
Interest from Saudi Arabia comes shortly after Ndiaye spoke publicly about his ambition to play Champions League football, something Everton are unlikely to offer him over the coming years.
Al-Hilal also cannot offer him Champions League football, but they can significantly boost his wages in what will be a very temping move.