Bale, who continues to be strongly linked with a move away from the Bernabeu, has only scored three times in 18 appearances for Zinedine Zidane's side during the 2019-20 campaign.
The Wales international has a contract with Madrid until the summer of 2022, but the Spanish giants would allegedly be open to the idea of allowing him to leave on a free transfer at the end of the season.
Manchester United and Tottenham Hotspur have both recently been credited with an interest, but according to 90min, Everton are weighing up a move for the 30-year-old.
The report claims that club officials at Goodison Park have discussed a swoop for Bale, who is believed to collect wages in excess of £350,000 a week in the Spanish capital.
The former Southampton youngster has scored 105 goals in all competitions for Los Blancos, winning one La Liga title, one Copa del Rey and four Champions League crowns during his time at the club.