Full-back Seamus Coleman was among the generous donors as Everton raised £244,400 to buy a house for homeless teenagers in Liverpool.
As part of their 'Home Is Where The Heart Is' campaign, the Premier League side will offer 16 to 23-year-olds a place to stay near Goodison Park.
The money raised smashed Everton's target of £230,000, as they look to give back to the community, including their loyal fans.
Ireland international Coleman, who has played for the club since 2009, made a "significant" cash donation, along with Everton chairman Bill Kenwright and ex-striker Duncan Ferguson.
The fund-raising efforts were led by Everton's under-23 side, who are coached by former defender David Unsworth.
"To finally reach the target is an amazing achievement and to have done it as quickly as we have is just fabulous," said Unsworth, who played more than 300 Premier League games for Everton.
"To be able to finish the project and help the people in Liverpool who need it most, it's the best and most rewarding thing I've ever done.
"We've done something special and we will continue to help, support and fund the project. It's just great to be able to help people who are less fortunate than ourselves. Thank you so much to everybody who has played a part."
Everton, inspired by returning local hero Wayne Rooney, beat Stoke City 1-0 in their 2017-18 Premier League opener last Saturday.