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Bove suffered a knee injury at the start of September and has not featured since the Hornets' 1-0 loss away to West Brom earlier this season.
The Italian has been a huge miss for Watford, who have severely struggled in the middle of the park in the wake of his prolonged absence.
But the club confirmed on Monday that he is set to rejoin group training, in modified sessions, by the end of the week.
Head coach Alessio Dionisi previously suggested that Bove may be ready after the upcoming international break, but insisted that the 24-year-old will not be rushed in his return.
"For me, the man arrived before the player," he said last month. "I wait; we'll wait for Edoardo for now."
Watford also confirmed that Bove has spent the past fortnight working individually with a fitness coach as part of his rehabilitation.
The club have also confirmed that two players, Luca Kjerrumgaard and Branimir Mlačić, are set to be subject to late decisions ahead of Tuesday night's game against Lincoln.
Kjerrumgaard suffered a minor thigh issue a day before the trip to Carrow Road, so he was not in the squad, while Mlačić came off after an hour and has a slight groin concern.
Despite the encouraging update, there are still several players ruled out for the immediate future, though the club noted they are progressing well.
Kwadwo Baah remains out with a thigh issue, Jeremy Ngakia is still recovering from a quad issue, and Soumaïla Coulibaly is the latest absentee, as he recovers from a hamstring problem, with all three progressing with the club's fitness coaches.
Michail Antonio remains out with a quad issue and is expected to be sidelined for a few weeks, while Nikoloz Chikovani is working individually due to a fractured thumb.
Jack Grieves is also sidelined, having felt his right adductor in training on Friday before the Norwich game, and he is awaiting further assessment to determine the extent of his issue.