The 27-year-old France international, who played under Toffees boss Ronald Koeman at Southampton, could make his debut against Manchester City at Goodison Park on Sunday.
Schneiderlin will wear the No 2 shirt at Everton, who will pay an initial £20m to United with the fee eventually rising up to £24m.
Everton have completed the signing of Morgan Schneiderlin from Manchester United
Everton have completed the signing of Morgan Schneiderlin from Manchester United
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