The Toffees had an opening bid knocked back last week, but have come back in with another which relegated Sunderland have accepted.
Sky sources understand the fee will include a number of add-ons over the course of a long-term contract, with Sunderland guaranteed £25m, with an additional £5m in appearance related add-ons."
Pickford, who played 32 times for the Black Cats last season, is currently on international duty in Poland with England for the U21s European Championships and will undergo a medical upon his return.