The 30-year-old has joined ex-boss Roberto Martinez and former Wigan team-mate Arouna Kone at the Toffees as the Merseyside outfit look to strengthen their squad
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Despite missing much of the 2012-13 season due to a torn groin muscle, Alcaraz made 68 appearances during his three-year spell at the Latics.
A mainstay of the Wigan defence following his move from Club Brugge in 2010, he proved his fitness in time to take his place in Wigan’s starting line-up for their 1-0 FA Cup final win over Manchester City at Wembley.
Alcaraz becomes the second arrival at the club in as many days following Arouna Kone’s move from Wigan as Martinez looks to strengthen his squad.