Lookman joined Everton from Charlton Athletic in January 2017 but consistently found first team opportunities hard to come by.
The 21-year-old made 21 appearances for Everton in the Premier League last season but just three of them came from the start.
Lookman spent the second half of the 2017/2018 season on loan at RB Leipzig, scoring five goals in 11 league games but the Bundesliga side failed in their attempts to secure him on a permanent deal thereafter.
Lookman told Leipzig’s official website upon securing a switch to the Red Bull Arena: “I am very happy to be back here and would like to continue where I left off in the second half of 2018 for RB Leipzig.
“Of course, I am also looking forward to seeing my team-mates again and would like to help the team to continue to celebrate great successes.
“Finally I can play again in the Red Bull Arena in front of this great backdrop and the fans. And last but not least, I would like to thank God, the fans and RB Leipzig for making my move possible.”
Lookman will enjoy Champions League football next season after RB Leipzig’s third place finish in the Bundesliga last term.
Lookman joins a growing list of young British talent making their way to the German Bundesliga to secure regular first team football.
Chelsea’s 18-year-old Wales international Ethan Ampadu, joined Leipzig on a season-long loan on Monday, while Jadon Sancho and Reiss Nelson impressed for Borussia Dortmund and Hoffenheim respectively last season.
Everton have joined the race for Crystal Palace’s Ivory Coast international Wilfried Zaha and will likely use the funds from Lookman’s sale to pursue a deal for the £80m rated winger.
