The 30-year-old has spent the last two campaigns out on loan after being deemed surplus to requirements at Everton, first with Aston Villa and Anderlecht last season and now with Sporting Lisbon for 2019-20.
Sporting have the option to sign Bolasie on a permanent basis for €4.5m (£3.9m), but his agent Jwtiar Khalid Rahman revealed that they look unlikely to trigger that clause.
"It looks like he's leaving Sporting," Rahman told Portuguese outlet Record.
"For now it's difficult to say, because it's all frozen. But we should get back to Everton."
Bolasie has made only 32 first-team appearances for Everton since joining from Crystal Palace in a £25m deal four years ago, scoring just twice in that time.
The Congolese winger has made 25 appearance for Sporting this season, meanwhile, scoring two goals and registering five assists. body check tags ::