Cenk Tosun is expected to complete his £27m move to Everton on Friday afternoon but Sky Sports News understands he has not signed in time to be involved in the FA Cup tie against Liverpool.
Sky sources understand the 26-year-old striker has agreed a four-and-a-half-year deal at Goodison Park.
Everton manager Sam Allardyce had been hopeful of having Tosun available for the Merseyside derby on Friday evening but Sky Sports News understands he has not signed in time.
However, the player is expected at Anfield to watch the derby.
Speaking on Thursday, Allardyce said: "I think it is personal terms, [that] is the final stage. After some long negotiation, we have got to that stage now.
"That might happen before the cup. We might get him registered before the cup, if we are lucky. There is a medical and all sorts to go through, so that might be very tight.
"Securing the player is the most important thing, because it has been the club's biggest area of concern, the number of goals we're capable of getting."