Representatives from Everton will meet with Bordeaux's chairman Stephane Martin ahead of a move for Brazil Under-23 international Malcom, according to reports.
The 21-year-old winger has been at the centre of attention throughout the last season, with it being suggested back in January that both Arsenal and Tottenham were interested in bringing Malcom to the Premier League.
European giants Inter and Bayern Munich have also been heavily linked with a move for the Bordeaux talisman, who has scored 23 goals and claimed 16 assists throughout his time at the Matmut Atlantique.
However, it is now believed that Everton are leading the race for Malcom's signature. Sky Sports understand that officials from Goodison Park will meet with Bordeaux chief Martin on Thursday to discuss their proposed deal.
It is believed that the Toffees are willing to offer £30m plus add-ons to sign Malcom this summer. The Brazilian winger will put pen to paper on a five-year contract at the club worth in the region of £80k a week.
Malcom would become the club's first major signing of the summer if a deal does go through, although Marco Silva's side have been boosted by the return of a number of players who spent time out on loan last season.
Forwards Kevin Mirallas, Sandro Ramírez and Ademola Lookman have all linked back up with the club during pre-season, although the latter is believed to be attracting interest from former loan side RB Leipzig.