According to information from The Athletic, the Russian forward has nearly recovered from a serious injury that kept him off the ice for over a month.
Ovechkin is ready to return for the last game before the NHL's Christmas break or immediately after the break.
Washington's next scheduled game is on December 21 at home against Carolina, followed by matches against Los Angeles (December 23) and Boston (December 24).
During their captain's absence, the Capitals delivered a series of impressive performances and even briefly topped the NHL standings.
The forward currently ranks second in all-time goals in North American League history (868), trailing only the legendary Canadian Wayne Gretzky (894).