Negotiations are said to be at an early stage, but Romano reports that the Senegal international's representatives are open to initial discussions, with any deal ultimately depending on Everton's willingness to sell.
Al-Hilal have already been active in the market this summer, having agreed a deal worth around £60 million to sign Netherlands international Crysencio Summerville from West Ham United, and are keen to add Ndiaye as a further reinforcement to their attacking options.
Ndiaye has three years left on his contract at Everton, but talks over an extension have failed to make progress, and the 26-year-old has recently spoken publicly about his ambition to play Champions League football, fuelling speculation over his future at Hill Dickinson Stadium. He was a key performer for David Moyes last season, scoring six goals and providing three assists in 32 Premier League appearances since joining from Marseille in 2024.
Everton are expected to have the final say on any transfer and are unlikely to sanction a cut-price deal, with reports suggesting the club could demand a fee in excess of £69 million given his importance to David Moyes's side. Ndiaye has also been the subject of Premier League interest in the past, with Manchester United and Aston Villa both credited with admiration for the forward, though neither club has advanced talks.
Separately, Sacha Tavolieri has reported that Ndiaye has emerged as an alternative target for Al-Hilal should their pursuit of Paris Saint-Germain's Ousmane Dembélé fail to progress.
Everton will be reluctant to lose one of their most productive attacking players without a fight, particularly given his versatility across the front line and his growing importance to Moyes's system.
The Toffees hold a strong negotiating position with Ndiaye still under contract until 2029, giving them little pressure to sell at anything below their valuation. Even so, the prospect of Champions League football and a considerably improved salary in Saudi Arabia could prove difficult for Ndiaye to turn down if Al-Hilal follow up their interest with a formal offer that meets Everton's demands in the coming weeks.