The fee, which had been the only thing stopping the deal happening at the start of the window, could rise to £24 million with a number of add-ons which are believed to be domestic and international appearance based.
Schneiderlin signs a four-and-a-half-year deal at Goodison Park, which will keep him at the club to the end of June 2021.
The Blues have been looking to complete this move since the beginning of the January transfer window and even began negating with United in December.
Everton were hoping to complete a double move for the French midfielder and Memphis Depay but have acted quickly to get the deal done for Schneiderlin under the wishes of Ronald Koeman.
Koeman has been looking to reunite with the midfielder he coached at Southampton since the summer but Everton targeted bigger names in the Dutchman’s first window in charge.
The French international could make his Everton debut as soon as this Sunday against Manchester City with the Blues lacking their main central midfielder, Idrissa Gana Gueye.
Schneiderlin on joining Everton
Speaking of his excitement to make the move, Schneiderlin said he has “always liked playing here (at Goodison Park)” and he knows Everton is a “big club in the history of English football” so it made sense to join.
He added that he wants to “put my print” on Everton as he knows the fans have “big expectations” so the players have to do everything they can to “make them come true.”
The Toffees had an ace up their sleeve in getting Schneiderlin to join, his former boss Ronald Koeman. The French international had interest from elsewhere but linking back up with Koeman was something he wanted to do.
Upon reuniting with Koeman, he said the manager was “very good” for him during their time on the south coast and he “enjoyed” their time together as the manager is “a pleasure” to work with so he couldn’t wait to link back up with him.
Koeman on the midfielder
Ronald Koeman said he is “very pleased” with the signing as Schneiderlin is a player he knows and especially knows about his “quality.”
The Dutchman said the Frenchman is a “strong character” who is a “clever player” on the pitch and somebody who is “hungry to show his qualities.”
Everton and Koeman want to add more players with Koeman saying that he “wants players” who want to “show their qualities” for Everton and help them achieve their targets.