Grealish, 30, spent last season on loan under David Moyes, scoring two goals and providing six assists in his 22 games.
Everton have now confirmed that the winger has rejoined on yet another season long loan from parent club Man City.
Several clubs had enquired about Grealish, including Sunderland, but it’s understood he had his heart set on a return to Everton.
Speaking to EvertonTV, a delighted Grealish said: "It feels so good. I'm so happy. I think I'm at my best at everything in life, not just football, when I feel loved.
“That's what the manager has given me, what my teammates have given me and especially what the fans have given me.
"Every time I see an Everton fan, it's just pure love and the way they've welcomed me since that first game against Leeds, I'll never forget that.
“It means a lot to me and hopefully I've made a few Everton fans happy.
"I had a perfect time here for the first six months, then I stayed around after I got injured. I’ve been watching all the Everton games in pre-season and since the season started.
"Now I feel ready to go. I'm ready to start training tomorrow and prepare for the games."