After struggling for minutes during the first half of last season, Lookman spent the second half of the season in the Bundesliga with Leipzig and impressed, scoring 5 times from 11 games.
Lookman arrived at Goodisan Park in 2017 from Charlton Athletic.
He initially showed promise and starred on debut as he scored in a 4-0
The Toffees are expected to sign new players this summer as they aim to improve under new manager Marco Silva.
The Merseysiders are thought to want to keep Lookman on board though the player is said to be open to leaving as he wants to play regular first team football.
Leipzig may fancy another bid considering that the player is open to an exit.
It remains to be seen whether Lookman is part of Silva’s plans for next season. If not, the club should seriously consider selling him, such a move will be the best thing for both club and player in that situation.