The Daily Record says the Rangers full-back has travelled south to undergo a medical and finalise personal terms with the Goodison club - with the bumper deal expected to be wrapped up and officially announced by on Tuesday at the earliest.
It's believed the fee could rise to as much as £16m depending on how well the 20-year-old adapts to life in England's Premier League.
The clubs have also agreed a future sell-on clause but it's understood Rangers have had to scale back on their original demands in order to secure a bigger slice of the initial transfer windfall is paid up front.
Everton boss Rafa Benitez missed out on a late bid for the 20-year-old in the last days of the summer transfer window but with Patterson still frustrated with a lack of top team chances at Ibrox - and Rangers set to bank a record fee - the move clearly suits all parties.
Need a VPN? Or seeking to switch? Then support Tribal Football by clicking here to sign up with our official partners NordVPN. Not only will you receive the best VPN experience, but also great discounts by signing up via Tribal Football. Thanks for your support!