The Toffeemen last week agreed a deal to buy land on which to build a Â£300m arena at Bramley Dock in Liverpool.
Manchester Metropolitan University researcher Graeme Heyes said forecasts suggest the site could be under water by 2100 due to rising sea levels.
Liverpool City Council declined to comment. Everton could not be reached.
In an article for The Conversation, Mr Heyes wrote: "As a researcher in sustainable business models, surely spending Â£300m on a waterfront stadium is a significant risk in terms of sea level rise?
"Recent research has shown that by the year 2100 sea levels could rise by two metres.
"That is only 83 years into the proposed stadium's 200-year lease."
"One can only hope the developers of this new stadium have undertaken a full climate change risk assessment - or have stocked up on sandbags!"
Everton may have scored a spectacular own goal by planning to build their new stadium on the banks of the River Mersey, an academic has warned.