Arsenal looked likely to lose Sanchez over the summer with the Chile international wanted by Manchester City.
Pep Guardiola’s side had a bid for the 28-year-old accepted, but Arsenal’s failure to secure a replacement ultimately saw him remain in north London.
City are expected to renew their interest in the Arsenal star in January, with Guardiola still hellbent on making him the focal point of their attack.
But The Sun have now claimed Everton have entered the mix for the Arsenal star – despite struggling for form so far this season.
The Toffees are currently in the bottom three, winning just two of their first nine games in a run of form that saw Ronald Koeman lose his job.
However, The Sun say their current plight has not stopped Everton dreaming of signing Sanchez from under City’s noses.
Owner Farhad Moshiri wants to send shockwaves through the footballing world and a deal for Sanchez would do just that.
But Arsenal fans need not fear about seeing their star asset depart for Goodison park.
It is claimed that Sanchez is now leaning towards staying until the end of the season, where he can depart as a free agent.
And, should he leave, he would rather join a club who can offer him Champions League football.
Meanwhile, speaking last week, Arsenal owner Stan Kroenke admitted he still had hope of the player staying put.
“We want to attract top players, keep top players and those guys are top players,” he said.
“I watched them on Sunday and they looked really good and played really, really, really well.
“We’d love to keep them. It takes two to dance; we’ll keep working to keep our top talent and to attract more talent but some of the guys we’ve got are looking pretty good.”