The 24-year-old has become unsettled at City and may play less of a part in Roberto Mancini's plans as the Italian continues to bulk up his squad with £50m mercenaries on £200,000 a week.
City are rumoured to be keen on signing Fiorentina winger Alessio Cerci, a move that would push Johnson further down the pecking order.
The Daily Mail says that Everton would like to take Johnson on loan, but may face competition from Chelsea and Sunderland who could afford to table a permanent deal for the player.
StickyToffee Verdict: Would be a fantastic signing in my opinion. Johnson is a very skilful player who may well fancy a move away from the Etihad Stadium. I could see him fitting in very nicely at Goodison.
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