In
| Player | Team | Date | Fee |
|---|---|---|---|
| Alex McConnell | Glenbuck Athletic | 1 May 1897 | Free |
| John Divers | Celtic | 1 May 1897 | Free |
| Rab MacFarlane | Third Lanark | 1 May 1897 | Free |
| John Gillan | Dumbarton | 1 May 1897 | Free |
| Robert Hendry | Dumbarton | 1 May 1897 | Free |
| James Littlejohn | Vale of Leven | 1 May 1897 | Free |
| George McKinley | Vale of Leven | 1 May 1897 | Free |
| Jack Douglas | Tranmere Rovers | 1 May 1897 | Free |
| Laurie Bell | The Wednesday | 29 May 1897 | £200 |
| Willie Muir | Kilmarnock | 29 May 1897 | £45 |
| Bob Struthers | Notts County | 23 October 1897 | Exchange |
| John Barlow | Prescot Cables | 15 November 1897 | £10 |
| Sam Wolstenholme | Horwich RMI | 27 November 1897 | £10 |
| Edward Turner | Kendal | 17 February 1898 | £15 |
| Septimus Keeley | Newport Town | March 1898 | 1-month loan |
| Ellis Gee | Chesterfield | 1 March 1898 | £100 |
| Harry Stringfellow Jack Kirwan | Southport Central | 3 March 1898 | £120 |
| Total (initial fees only): | £500 | ||
- Bob Struthers (Notts County) – Everton and Notts County agreed an exchange deal where Everton received Bob Struthers and Notts County received Robert Hendry.
- Edward Turner (Kendal) – Originally on a month's trial.
- Septimus Keeley (Newport Town) – May actually have been a trial.
Out
| Player | Team | Date | Fee |
|---|---|---|---|
| Alf Milward | New Brighton Tower | May 1897 | £200 |
| Bert Banks | Third Lanark | May 1897 | Undisclosed |
| Bob Menham | Wigan County | May 1897 | Undisclosed |
| George Molyneux | Wigan County | May 1897 | Undisclosed |
| Hugh Goldie | Celtic | May 1897 | Undisclosed |
| Smart Arridge | New Brighton Tower | May 1897 | £70 |
| William Campbell | Clyde | May 1897 | Undisclosed |
| William Nash | Clyde | May 1897 | Undisclosed |
| Frank Briggs | Released | 1 May 1897 | |
| George Meiklejohn | Released | 1 May 1897 | |
| William Maley | Released | 1 May 1897 | |
| Willie McDonald | Released | 1 May 1897 | |
| Robert Hendry | Notts County | 23 October 1897 | Exchange |
| Alex McConnell | Woolwich Arsenal | 26 November 1897 | £20 |
| Abe Hartley | Liverpool | 22 December 1897 | £175 |
| Jack Douglas | Tranmere Rovers | March 1898 | Undisclosed |
| Total (initial fees only): | £465 | ||
- Alf Milward (New Brighton Tower) – Everton received £200 for Milward in September 1898.
- Smart Arridge (New Brighton Tower) – Everton received £70 for Arridge in September 1898.
- Frank Briggs (Released) – Eventually joined Nelson in August 1897.
- George Meiklejohn (Released) – Been linked with a move to Hamilton Academical but unknown if Meiklejohn actually joined them.
- Willie McDonald (Released) – Unknown if McDonald joined another club. May have retired due to injury.
- Robert Hendry (Notts County) – Everton received Bob Struthers and Notts County received Robert Hendry.
- Jack Douglas (Tranmere Rovers) – Transfer completed around 3rd March 1898.
| Income | £465 |
| Expenditure | £500 |
| Net Spend | +£35 |