The 21-year-old is believed to have attracted interest from numerous clubs for his scintillating displays in front of goal.
So far this season, the forward, who moved to Scotland from Fulham in 2016, has scored six goals in 10 appearances in all competitions for Celtic.
Everton have struggled for firepower since selling Romelu Lukaku to Manchester United for £75m, with only 10 Premier League goals being scored in 11 games.
"I think Everton are crying out for that type of striker," Stubbs told BT Sport. "They need someone who is big, strong, powerful, and obviously scores loads of goals.
"He'd be a good fit for Everton right now, but obviously Celtic just want to see him out there scoring goals, and the more goals he scores, the more pound notes."