The Merseyside club are facing severe interest from RB Leipzig, where the player spent the second half of last season on loan.
Now they want him back. The 20-year-old impressed in Germany after being unable to get a regular game for Everton in the first half of the season.
But Everton are not keen to sell, unless Leipzig make a big offer.
Per the Daily Mirror, the club will not settle for a fee lower than £30 million.
While the club see wide midfielder Lookman as a big talent, they know competition for places in those positions is intense at Goodison Park.
A big money move may be suitable for all parties.