Vinagre joined Wolves on an initial loan in 2017 as an 18-year-old with the move being made permanent a year later.
He went on to make 43 appearances in gold and black before joining Olympiacos, Famalicao and Sporting Lisbon on loan before completing a full switch back to the Portuguese giants at the end of last season.
However, former Wolves sporting director Kevin Thelwell, now director of football at Goodison Park, has kept a close eye on the progress of the full-back and looks set to take him to Merseyside.
Vinagre posted on his personal Instagram account to Sporting, saying: “Thankyou, best of luck for this season.”
Elsewhere, one-time Everton target Morgan Gibbs-White is not close to joining Nottingham Forest, contrary to some reports, the Express & Star understands
Gibbs-White, who was linked to Everton earlier this summer, has been linked to newly-promoted Forest but it is understoof there has been contact between the clubs and the Wolves do not consider the Stafford-born attacking midfielder to be for sale. He impressed on loan for Sheffield United last season – with the Blades beaten by Forest in play-off the semi-finals.