The experienced forward, who has three Champions League winners' medals, joins on a free transfer after spending last season at Chelsea.
Everton manager Roberto Martinez was delighted to secure the former Inter Milan and Barcelona player’s signature and said he was impressed with his desire.
"I met him and we had a very good chat about football in general and I was impressed about the hunger he still has,” he told the club's official website.
"For someone who has achieved nearly everything, he still has the desire he had at 15 when he went to Spain and showed what he could do.
“For many reasons he has got a point to prove. We are very excited and I think Everton is the perfect home for him.
“The fans will make him ready and feel sharp but we have got to be a bit patient with the fitness levels and make sure he is back to his best."
Eto’o revealed Martinez made a very strong impression on him and admitted he cannot wait to start working under the Spaniard.
"I am very happy to be here, I am looking forward greatly to putting on the blue shirt of Everton,” Eto’o said.
"I have been very impressed by the style of play Everton adopt. I could see straight away that at this club I will have the opportunity to play football.
“I had the chance to speak with the manager over the last few days and we agreed that this was what we would do.
"I was impressed with his enthusiasm but also by the knowledge of football that Roberto Martinez carries, his vision of football and how he reads football. I still think I can learn a great deal from him here."
Everton chairman Bill Kenwright said Eto’o was keen to sign for the club from day one and has no doubt the striker will be a big hit at Goodison Park.
"Roberto and Samuel seemed a perfect fit,” he said.
“I'm pretty sure Samuel will soon realise he's got the perfect club and perfect team-mates to really enjoy his second Premier League adventure.
"Throughout all of the negotiations, both Samuel and his representatives conducted themselves in an exemplary way and left Roberto and myself in no doubt that Everton was the only club he wanted to play for."