In
| Player | Team | Date | Fee |
|---|---|---|---|
| Ray Veall | Doncaster Rovers | 26 September 1961 | £10,000 |
| Alex Russell | Marsden Colliery | 12 December 1961 | Free |
| Gordon West | Blackpool | 2 March 1962 | £28,000 |
| Dennis Stevens | Bolton Wanderers | 6 March 1962 | £32,500 |
| George Heslop | Newcastle United | 6 March 1962 | Exchange |
| Total (initial fees only): | £70,500 | ||
- George Heslop (Newcastle United) – Everton and Newcastle United agreed an exchange deal where Everton received George Heslop and £3,000 and Newcastle received Jimmy Fell.
Out
| Player | Team | Date | Fee |
|---|---|---|---|
| Jack Bentley | Stockport County | 12 May 1961 | Free |
| Stan Edwards | Port Vale | 20 May 1961 | Free |
| Stan Harland | Bradford City | 28 June 1961 | £500 |
| Arthur Peat | Southport | 30 June 1961 | Free |
| Peter Kavanagh | Released | 1 July 1961 | |
| Alan Shackleton | Oldham Athletic | August 1961 | £1,000 |
| Tommy Ring | Barnsley | 20 November 1961 | £750 |
| Jimmy Fell | Newcastle United | 6 March 1962 | Exchange + £3,000 |
| Bobby Collins | Leeds United | 8 March 1962 | £25,000 |
| Total (initial fees only): | £30,250 | ||
- Peter Kavanagh (Released) – Eventually joined Gravesend & Northfleet ahead of the 1961/62 season.
- Alan Shackleton (Oldham Athletic) – Transfer completed around 18th August 1961.
- Jimmy Fell (Newcastle United) – Everton and Newcastle United agreed an exchange deal where Everton received George Heslop and £3,000 and Newcastle received Jimmy Fell.
| Income | £30,250 |
| Expenditure | £70,500 |
| Net Spend | +£40,250 |