The Spaniard moved to Goodison Park in July of last year for £4.2m after coming through the ranks at the Nou Camp.
In the deal, however, was the option for Barcelona to buy the 21-year-old back within two years of selling him.
The Spanish champions can sign Deulofeu for £6.3m this summer or £9.3m at the end of the 2016/17 season.
And, according to Mundo Deportivo, Barcelona have dispatched scouts to watch the Spaniard ahead of a potential transfer.
Manager Luis Enrique has been impressed by Deulofeu and believes he may now force his way into the club’s first-team plans.