McNeil has joined the Toffees for a fee which could rise to £20m, signing a five-year deal.
He said: “It is an amazing feeling to sign. When I heard about Everton’s interest I wanted to get it done straight away because of the club and how good the team is.
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“Speaking to the manager about what they want going forward, it really excited me and appealed to me. I wanted to be part of it. He knows me as a player, as does [Director of Football] Kevin Thelwell. I want to work hard and do well for the team and for the fans.
“I feel playing under a manager like Frank Lampard, he will help me to get my stats up – and that is what I want to do and improve my game.
“I am a direct runner with the ball. I like to get on the ball, cut inside and create chances for the team.
“I want to help the team as best as I can, work hard and do the defensive side of the game, too.
“I’ve played at Goodison a couple of times and you always knew it was always a difficult place to go because the fans are behind the lads from the start to the end. It is good and something I want to be part of.
“Now I am fortunate to be on the same side as the fans and am looking forward to getting going.”
Everton Director of Football, Kevin Thelwell, said: “We are delighted to secure the signing of Dwight on a five-year contract.
“Despite being only 22, he has plenty of Premier League experience and the statistics prove we have brought in one of the best young talents in English football.
“We are confident that, working with Frank and his coaching staff, Dwight can become even better and enjoy a long, successful career with Everton.”
Manager Lampard added: “I have been a big admirer of Dwight for some time. He has huge talent and is exactly the type of player we want to bring into the squad to help us improve.”