Reports from various media outlets had suggested the Blues would make a move for the forward, who has scored 17 goals in an excellent first season in the Premier League.
The 25-year-old's goals were unfortunately not enough to keep his side up, but he is one of the few players to come away from QPR's awful season with his head held high.
Everton though, are not interested in a move for the striker despite being in the hunt for added firepower come the summer. Roberto Martinez has prioritised "two or three" new signings, with the paper claiming a playmaker, likely Tom Cleverley, is at the top of his wish list.
Frankly, Everton could do a lot worse than a move for Austin. He has proved himself at this level with his goal tally, which is even more impressive given his side are at the bottom of the table.
Added in that any transfer would unlikely be for an inflated fee, and he seems an ideal signing for Roberto Martinez. Whether the Spaniard has a better option up his sleeve remains to be seen.