The 2014–15 season was Everton's 23rd season in the Premier League and 61st consecutive season in the top division of English football. It is also Everton's 115th season of league football and 118th season in all competitions. The club finished fifth in the previous campaign to qualify for the Europa League, which saw Everton play in Europe for the first time since the 2009–10 season. On 30 July 2014, the club signed Chelsea striker Romelu Lukaku for a club record £28 million.

"This signing is not just important for this season. It is a significant day in the history of this football club. We know that Romelu is still a young man and the potential that he has is quite unique, and we are desperate to see him enjoying his football and to watch him grow as footballer in the years to come."

On 8 July, Everton signed Gareth Barry on a three-year contract after the midfielder had been on loan to the club in the previous campaign. Later in the month Bosnian Muhamed Bešić joined from Ferencváros for an undisclosed fee. On 30 July, Everton broke their record transfer fee by signing Romelu Lukaku from Chelsea for £28 million, smashing the £15 million the club paid for Marouane Fellaini in 2008. Lukaku had been on loan at Everton last season, scoring 16 goals in 33 games.

Everton played five pre-season friendlies before their first Premier League match without winning any (drew two, lost three). They opened the year with a 2–2 draw at newcomers Leicester City after twice being ahead. A week later goals from Séamus Coleman and Steven Naismith saw Everton take a 2–0 lead over Arsenal with seven minutes to go, but two late goals resulted in a second consecutive 2–2 draw. On 26 August, Everton signed Cameroon striker Samuel Eto'o on a free transfer. Everton were then involved in the joint seventh highest scoring game in the history of the Premier League when they fell 2–0 down at home to Chelsea after three minutes and went on to be defeated 6–3. It meant the club had equalled a Premier League record by conceding 10 goals in the first three games.

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