The England international is open to a loan move back to the Premier League in January to keep himself in contention for next year's World Cup.
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The former Brentford striker has been superb for his Saudi Pro League club, scoring 49 goals in 59 appearances and helping Al Ahli win last season's Asian Champions League.
Sky Sports says a raft of European clubs are keen on Toney, with Everton now making a serious move.
Indeed, the Toffees are open to signing Toney outright with manager David Moyes still seeking a natural goalscorer to lead his attack.
The fee for Everton wouldn't be an issue, though wages could be a stumbling block as Toney is on £400,000-a-week net at Al Ahli.
