The Argentina midfielder is out of contract with Sevilla at the end of the season and the Liverpool Echo report that Everton could make a move for him.
Banega has been linked with a move to Merseyside in the past but Manchester United, Juventus and Roma are also believed to hold an interest in the 27-year-old.
That would mean the Toffees would face stiff competition, although the fact Banega's national team-mate Ramiro Funes Mori is at Goodison Park could help.
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