Wolves boss Nuno Espirito Santo is not currently interested in leaving the club despite interest from Everton, BBC Sport understands.
The Toffees, who have David Unsworth in caretaker charge, have been without a manager since Ronald Koeman was sacked.
The Dutchman was fired after a 5-2 home defeat by Arsenal left the Toffees in the Premier League relegation zone.
Nuno has taken Wolves to the top of the Championship since replacing Paul Lambert at the end of last season.
The former Porto and Valencia boss, 43, became the seventh man to take charge of the club since February 2012 and the fourth boss in 10 months under Chinese owners Fosun when he was hired in May.
Earlier this week, former England boss Sam Allardyce says he would consider an approach from Everton.
Academy coach Unsworth, who made 350 appearances for Everton, was put in temporary charge after Koeman’s dismissal.
The 44-year-old former defender, who wants the role on a permanent basis, said: “Nothing more has been said about taking the manager job full-time.
“We just carry on day by day, game by game. Hopefully we’ll be able to sit down after Sunday’s game in the international break. What we want is the best resolution for Everton.
“I’m not put off about anything at all about the job. It’s a fabulous job at a fabulous club.”
Everton are away at Lyon in the Europa League on Thursday at 18:00 GMT. The Toffees could be knocked out of the competition if they lose.