The five-year partnership begins on June 1 and includes the supply of football kit plus technical and training product to the club.
Umbro will also sponsor some of Everton’s grassroots programmes.
“Everyone at the club is not only delighted, but excited to be back wearing the Umbro diamond next season,” Everton manager Roberto Martinez says.
“I have been involved in a number of discussions with Umbro over the past few months in preparation for next season and their approach to quality, design and the technical aspects of the product is unique and I have no doubt it will help us to perform to our full potential on the pitch.”
Everton first started wearing Umbro kit in the 1970s.