Gavin Henson could be in action by the end of September after the Wales centre returned to training.
Henson has been sidelined after a complicated ankle ligament injury required surgery over the close season.
But the talented back came through his first full contact session since the injury on Wednesday, and may even feature on the bench for the match against Ulster on September 26.
"Gavin is back in full training, so he is close to a return," said Ospreys caretaker coach Sean Holley to the Western Mail.
"He's starting to integrate into contact work. He took a full part in a full contact session, so he's not far away. He's on the edge now. We are extremely pleased with the way he has progressed and come through.
"We've got to start looking at game-time for him as the next step. We will have to see how he goes in training over the next week or so and how he responds to contact and some game-time.
"It's just a question of getting over that last hurdle. Once we are over that barrier, he's away.
"Once he comes through that first bit of game-time, whether we put him on the bench or starting against Ulster next week, we are away."