The agreement was reached very late on Wednesday night with the player now set to undergo a medical in the coming days and complete the move.
Richarlison will become Spurs fourth summer signing after Fraser Forster, Ivan Perisic and Yves Bissouma.
Spurs are also closing in on a loan deal for Clement Lenglet from Barcelona.
Everton are understood to be under pressure to bring themselves in line with the Premier League’s Profit and Sustainability rules before the end of their financial year, which is midnight on Friday.
It remains to be seen whether Spurs will also be able to do a deal for Anthony Gordon – but Sky Sports News reported earlier on Wednesday the Blues were reluctant to discuss his potential sale.
Chelsea were considering rivalling Tottenham for Richarlison, one of several options the Blues are looking at to improve their front-line.
Chelsea are in talks with Leeds over a deal for Richarlison’s compatriot Raphinha, with the Blues prepared to pay in excess of £50m to get the deal done, and hold interest in Man City’s Raheem Sterling and Barcelona’s Ousmane Dembele, who is soon to be out of contract.
Meanwhile, Tottenham have cooled their interest in Anthony Gordon for now and are concentrating their efforts on completing the Richarlison deal.
Everton indicated during talks with Spurs that they did not want to sell Gordon. It is understood Spurs did make a combined offer for both players during discussions.
Why Richarlison is worth every penny
The man affectionately nicknamed O Pombo [Portuguese for ‘the pigeon’] due to his goal celebration has spread his wings.
Richarlison is now a role model to millions in Brazil as the country’s No 9 and is set to fly the nest again. His ascent up the football ladder has no limits.
Spurs in talks over Lenglet loan
Tottenham are in talks over a loan deal for Barcelona defender Clement Lenglet but he is not the club’s only centre-back target this summer.
A move to Spurs has been described as Lenglet’s most likely destination by a source close to negotiations, if the France international is to leave the Nou Camp this summer.
However, an agreement is not yet close, with the 27-year-old not the only centre-back Spurs are making enquiries about as they look to add a left-footer to the back three.
Atletico make offer to sign Emerson on loan
Atletico Madrid have made an offer to sign Tottenham defender Emerson Royal on a season-long loan.
As it stands, Spurs have no intention of allowing Emerson, who joined last summer from Barcelona for £25.8m, to leave.
Atletico tried to sign him last summer, but he opted to join Spurs instead, signing a five-year contract.
Tottenham’s 2022/23 Premier League fixtures
Tottenham will start their 2022/23 Premier League campaign at home to Southampton on August 6 followed by a trip to London rivals Chelsea on August 13.
Antonio Conte’s side, who finished fourth last season to qualify for the Champions League, face north London rivals Arsenal at The Emirates on October 1 with the return fixture at the Tottenham Hotspur Stadium on January 14.
The first newly-promoted side Tottenham face is Nottingham Forest at the City Ground on August 27 and that is followed by a midweek evening trip to London rivals West Ham on August 30.
Tottenham’s final game before the season pauses for the winter World Cup in Qatar will be at home to Leeds on November 12, with Spurs returning to Premier League action on Boxing Day at Brentford.
Tottenham face back-to-back London derbies at home in the second half of the season as they host West Ham on February 18 and then Chelsea on February 25.