Ivanovic, 36, is out of contract with the Russian club this month and they have recruited Dejan Lovren as a replacement.
Despite reports he could return to Serbia with Red Star Belgrade, Novosti claims he is in fact close to Everton.
Carlo Ancelotti coached Ivanovic during his time at Chelsea and wants to add his experience to the Everton defence.
Negotiations for Ivanovic to join Everton are ‘in the final phase’, the Serbian source states.
Ivanovic moved to Zenit from Chelsea in 2017 and has made 125 appearances for the Saint Petersburg club.
The Liverpool Echo has refuted the report from Serbia, stating that Everton don’t want Ivanovic.
— Everton FC News (@LivEchoEFC) July 28, 2020