Everton failed with a late bid for Espanyol defender Mario Hermoso last month.
Eliaquim Mangala joined the Blues in a deadline day loan from Manchester City but it appears that he was not the only centre-back being assessed at the time.
Reports in Spain this week have claimed that former Real Madrid player Hermoso was the subject of an unsuccessful approach from Goodison Park.
According to Sport, Everton were happy to pay £7 million for the 22-year-old’s signature only to be denied by Espanyol, who held out for a higher valuation.
The La Liga side are understood to have been waiting for Hermoso’s price tag to rise above £13m after Toffees scouts tracked the player for several months.
A renewed approach could be made in the summer transfer window, with Mangala expected to return to the Etihad Stadium at the end of this season.