Toffees CEO Robert Elstone revealed that the club has come to an agreement over their Finch Farm complex to continue to use their facilities on a long-term lease
The local authority has purchased the training facility outright in a deal both parties claim will benefit the club and the council in the long-term.
Everton will pay a lower annual rental cost, while the council will still get a competitive return on the property.
Toffees CEO Robert Elstone told the club's official website: "We continue to work with the council on many fronts and the club is especially pleased to have delivered an innovative scheme, on our superb Finch Farm facility, that works for both parties."
Mayor of Liverpool Joe Anderson added: "It’s a very good deal for us, and for Everton.
“Over the lifetime of this arrangement we will get much needed revenue, which we can re-invest in essential services for the people of Liverpool.
“Together with the new Exhibition Centre, the council regard such investments as innovative but vital in enabling it to meet its on-going budget challenges.”