Duncan Ferguson will remain as interim manager for Everton’s Premier League game at home to Arsenal on Saturday.
Ferguson, 47, has been in temporary charge of the Toffees for the past three matches after they sacked Marco Silva earlier this month.
Ex-Chelsea boss Carlo Ancelotti, 60, is Everton’s top target to succeed Silva with talks held earlier this week.
Everton are 16th in the Premier League and face an Arsenal side in 10th who also do not have a permanent manager.
Former Gunners midfielder Freddie Ljungberg has been in temporary charge of the Gunners since they sacked Unai Emery in November.
Ex-Everton player Mikel Arteta, who is currently the assistant manager at Manchester City, is expected to become Arsenal’s next full-time boss.
Ferguson has picked up four points from his two Premier League games – a 3-1 home win against Chelsea and a 1-1 draw at Manchester United – and also guided Everton to a 2-2 draw against Leicester in the quarter-finals of the Carabao Cup on Wednesday, although the Foxes won on a penalty shootout to reach the semi-finals.
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An Everton club statement, which confirmed Ferguson would be in charge against Arsenal, said the Scot would again be assisted by coaches John Ebbrell and Francis Jeffers, and goalkeeping coach Alan Kelly.