The centre-back is one of 14 players who’ll depart the Clarets after they suffered relegation to the Championship.
Tarkowski, 29, is now rendered a free agent and is expected to complete a switch to Goodison Park.
Frank Lampard is keen to bolster his defensive options after the Blues narrowly avoided relegation in the 2021-22 season.
It’s reported that Tarkowski has already underwent a medical.
A Burnley statement said: “James Tarkowski expressed his desire earlier in the season to seek an opportunity elsewhere when his contract expires, and he will also depart after more than 200 appearances for the club.”