Everton are expected to submit their appeal against the deduction of 10 Premier League points, handed down by an independent commission, on Friday.
The club were sanctioned on November 17 for a breach of the Premier League's profit and sustainability rules and have 14 days to lodge an appeal.
Once it has been submitted, the case will then be considered by an independent appeals commission, which will include a different set of people from the original commission panel.
Everton said they were "shocked and disappointed" by the ruling and vowed to appeal against it.
"Both the harshness and severity of the sanction imposed are neither a fair nor a reasonable reflection of the evidence submitted," said the club.
The deduction, which was meted out by an independent commission and imposed with immediate effect, is the largest in the history of the Premier League and plunged Sean Dyche's team into the relegation zone.
According to the Premier League, Everton admitted during a five-day hearing it was in breach of the league's profitability and sustainability rules (PSR).
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