The 18-year-old made his debut for Barnsley last December and has impressed during his 22 appearances for the Tykes.
Holgate has signed a five-year contract with Everton.
“With Mason, an opportunity came up and we didn’t want to lose out. He is a young man with a very impressive future,” Toffees manager Roberto Martinez told the club website.
“I feel that we are the perfect place in order for Mason to develop into a top footballer. I know that he is a player who can bring us something quite unique, so we are excited about that possibility, even though he is one for the future rather than now.”
Here's more on the deal for Holgate and a first picture from this morning's training session: http://t.co/NLeGzd0McW pic.twitter.com/m9QWTnGzig
— Everton (@Everton) August 13, 2015