The Premier League club were forced to apologise to supporters in May last year after replacing the original design, and removing the club motto 'Nil satis nisi optimum,' without consulting supporters.
Fans, who were given a choice of three options for the new design, have now voted overwhelmingly in favour of a crest which incorporates the Latin motto, translated as 'nothing but the best is good enough'.
The news has been welcomed by Everton manager Martinez, who insisted the new design must maintain the tradition and history of the club.
"I was impressed straightaway when I saw it but there has been a huge majority of fans (almost 80 per cent) have chosen this one," Martinez said.
"It captures what we were looking for: to have a modern touch and to be a global badge without taking away all the key icons of the football club.
"Certain icons represent many years of history and that is important: fans made it clear they wanted to see the tower and our motto and I think it is important 'Nil satis' is back on the badge.
"It has been terrific work from the club as it was important to come up with something which pleases everyone."