The 27-year-old has signed a four-and-a-half year deal with Roberto Martinez's side and was presented in front of fans before the club's fixture against Norwich City
The former Celtic winger becomes the Merseyside club's first signing of the January transfer window and will reinforce an attack that seems likely to be shorn of Nikica Jelavic in the coming days, as the forward negotiates a move to Hull City.
Everton announced the acquisition of McGeady shortly before Saturday's Premier League fixture against Norwich City and the new signing was presented to the fans on the pitch at Goodison Park before kick-off.
The 27-year-old is likely provide competition for the likes of Kevin Mirallas and Stephen Pienaar on the flanks - a position which has been weakened after Gerard Delofeu suffered a hamstring injury during Everton's 4-1 win over Fulham on December 14.
McGeady joins Roberto Martinez's side after three and a half seasons in the Russian Premier League, during which he scored 11 goals in 71 appearances.