The move takes the 20-year-old back to the country of his birth after a difficult debut season on Merseyside, where he was restricted to two senior outings — a Carabao Cup tie against Preston North End and an FA Cup defeat to Sunderland in January — as Vitaliy Mykolenko remained David Moyes's first-choice option at left-back throughout.
Aznou had fallen well down the pecking order at Goodison Park and had also struggled to convince Moyes in training.
Everton paid an estimated €9m to sign Aznou from Bayern Munich last summer, and he arrived on Merseyside with a long-term contract running to 2029. That pedigree counted for little in a squad short on regular game time, and the club has now sent him out for a second consecutive loan spell in search of senior football.
Aznou is a product of Barcelona's La Masia academy, coming through the Catalan club's youth ranks between 2019 and 2022 before a switch to Bayern Munich.
He made his Bundesliga debut in November 2024, coming off the bench for Alphonso Davies against Union Berlin, but senior opportunities in Bavaria proved just as scarce, with only four competitive appearances across two seasons.
The clearest sign of his talent came during the second half of the 2024-25 campaign, when Bayern sent him on loan to Real Valladolid. Aznou made 13 La Liga appearances for the Castilian side, gaining experience that helped persuade Everton to make their move that summer.
Málaga, promoted back to La Liga last season, will hope regular football can accelerate his development further. The Andalusian club have been active in the transfer market this window, with Aznou following defenders Calero, Cruz, Dotor, Salinas and Pablo Martínez through the door as their sixth arrival.
Aznou has also represented both Spain and Morocco at youth level. Born in Barcelona, he opted for his father's country and made his senior debut for Morocco in 2024, earning three caps to date.
Everton, meanwhile, are left with Mykolenko as their only recognised senior left-back for the remainder of the campaign, having decided a season of regular Spanish top-flight football offers Aznou a better path back into their plans than another year on the bench.