Everton Women has been sold and are now a separate entity from the men's team.
It remains alongside the men's team under the Roundhouse Capital Holdings Ltd umbrella.
Everton bosses hope the move will help attract further investment for the women's team, particularly from the United States.
Sky Sports News understands the transaction will also benefit the men's team financially from the standpoint of Premier League Profitability and Sustainability Rules (PSR), as the sale can be recorded as revenue in the club's accounts.
The sale, which is seen as fair market value, has been ratified by the Premier League.
The change comes as public focus sits firmly on England's triumphant Euros campaign, although Everton insist the timing is largely linked to the club entering a new financial year.
It is the latest in a number of clubs selling their women's team, with Aston Villa and Chelsea making similar moves recently.
Everton Women will play at Goodison Park next season, while the men's side will play in the club's new 52,000-seat Hill Dickinson Stadium at Bramley-Moore Dock.
Everton begin the new Women's Super League season against local rivals Liverpool at Anfield on September 7, live on Sky Sports.