After his unimpressive performance against Tottenham Hotspur, where his error cost the Toffees maximum points, the 23-year-old Super Eagles star was dropped to the bench at St. Mary's Stadium.
Iwobi was introduced into the game in the 74th minute, replacing Theo Walcott and gave a good account of himself, earning a 75% successful pass rate in the encounter.
Danny Ings’ strike cancelled out Tom Davies’ opener before Richarlison grabbed the winning goal in the 74th minute to help Marco Silva’s men return to winning ways.
Mali international Djenepo made his full return for Southampton, having been sidelined from action since September due to a muscle injury.
The 21-year-old winger, however, could not add to his two goals this season, despite playing for the duration of the match as the Saints suffered their eighth defeat.
The win propelled the Goodison Park outfit to 13th spot in the Premier League table with 14 points from 12 games.