The summer signing from Crystal Palace looks set for a long spell on the sidelines after scans revealed he required an operation.
The club tweeted: " Yannick Bolasie to undergo knee surgery after scans confirmed a serious ligament injury against @ManUtd
Come back stronger, Yannick."
Everton confirmed on their official website the 27-year-old, who was forced off in the 68th minute of the Goodison Park clash as the Toffees hit back to snatch a late point, had suffered anterior cruciate ligament damage to the right knee.
He will undergo surgery in the next few days.
Everton gave no indication how long the injury would rule the DR Congo international out for, but the news is a further blow to boss Ronald Koeman as he looks to end what is now a four-match winless run.
The Â£25million summer signing from Selhurst Park has been an ever-present for Everton this term.
Source : PA