Relegated Hull have released longest serving players Paul McShane and Liam Rosenior as they reshape their squad.
Real Madrid have vehemently denied reports they have made an approach to sign Juventus midfielder Paul Pogba.
The 18-year-old has agreed a deal to keep him with the npower Championship side until 2015 after a successful trial period.
Forrester joined the Toffees' academy aged nine and went on to feature regularly for the Under-16s and Under-18s.
More recently the youngster had been on the fringes of Alan Stubbs' development squad, making seven appearances for the Under-21s this season.