UK tabloid The Sun claims that Everton are eager to hammer out a permanent deal for Jo, who they landed on loan from Manchester City last month.
The Brazilian prospect arrived at Eastlands last summer in deal worth over 21 million, a fee that reflected his superb goalscoring record at CSKA Moscow (44 strikes in 77 league games).
However, the 21-year-old has failed to make any sort of impact in Manchester, struggling to hold down a place in the squad despite the Sky Blues' desperate need of a genuine centre-forward.
Thus, Mark Hughes shipped out the troublesome target-man at the first opportunity, and the early signs suggest that he is well on the way to resurrecting his career at Goodison Park.
On his Everton debut, Jo scored twice and won a penalty to steer his new side to a 3-0 bashing of Bolton Wanderers, and manager David Moyes is already hatching a plan to buy him outright.
The Toffees were among those chasing the sometime Selecao star during the off-season, but financial restrictions - c****ined with City's comparitive lack thereof - forced them to drop out.
However, with the Citizens' Arab owners looking to upgrade their struggling squad significantly at the end of the campaign, Jo could be available for a cut-price deal.