BBC Sport confirmed that the Toffees signed Barnsley’s 18-year-old defender John Stones on a five-and-a-half year deal.
The Engand Under-19 right-back has moved to Goodison Park for a deal thought to be worth about £3 million after Stones agreed personal terms late on Thursday night.
The 6ft 2 ins Barnsley teenager decided to join Everton despite having a £3m bid accepted from Wigan Athletic earlier in the day while Manchester City and Chelsea were thought to be monitoring the promising youngster.
Stones said: “I am very excited to be joining Everton. I’ve been very impressed with everything I have seen at Finch Farm already. Now the hard work begins.”
Moyes will be delighted to have secured the highly coveted defender, who has made 28 appearances at Oakwell, on such a long-term contract.
Meanwhile, Moyes audacious attempt to bring Alvaro Negredo to Goodison Park fell through when Sevilla demanded more than £15m for the Spanish striker which was well outside of his budget.