The ex-Arsenal and Manchester United man is yet to start a game for Inter this season and recently hit out at his lack of game time on social media.
With Sanchez's contract due to expire in 2023, he is widely expected to depart the Serie A champions next summer amid speculation over a return to the Premier League.
The report adds that the Toffees would be willing to offer Cenk Tosun in a straight swap deal, but Inter are set to swiftly reject that proposal as they seek to recoup a fee for Sanchez.
The 32-year-old has claimed 11 goals and 19 assists from 75 games for the Nerazzurri but has played just 52 minutes of Serie A football so far this season. body check tags ::