The 31-year-old defender will be available on a free transfer when his contract expires, and he is expected to attract interest from both domestic and European clubs.
While options abroad are developing, Flashscore sources suggest Everton are determined to try to keep him in the Premier League.
They are looking to prioritise the signing of a new centre-back, particularly with Jarrad Branthwaite dealing with another injury setback.
Although Stones has also faced injury issues in recent years, his experience, pedigree and mentality are key reasons behind Everton’s interest.
Stones originally left Everton in 2016 for £47.5 million and has since become a key figure in a hugely successful period at City under Pep Guardiola. His development has made him one of the most respected players in his position.
At this stage, Stones is believed to be open to the idea of returning to Merseyside, though attractive opportunities overseas could yet influence his decision.
AC Milan are among the clubs interested and feel he would suit Serie A, while Bayern Munich - managed by former Man City captain Vincent Kompany - are also monitoring the situation.
The Bundesliga side have recently targeted top Premier League talent, including Harry Kane and Michael Olise.
Stones’ injury record will be considered a potential risk, and further discussions are expected once he formally evaluates his options.
He is also set to be part of a wider summer reshuffle at City, with the likes of Bernardo Silva, Jack Grealish, Manuel Akanji and Nathan Ake also expected to depart.
Links to Barcelona have emerged too for Stones, although interest from the Spanish club remains unconfirmed.
