The 21-year-old has missed City's last seven matches across all competitions after suffering a fractured foot while on international duty with Spain in October.
Torres was expected to be out for the rest of 2021, however the Daily Mail reports that the forward has stepped up his rehabilitation and bids to be back in contention next month.
The report adds that the Spaniard had been recovering abroad before he flew back into Manchester on Tuesday to begin individual training sessions.
Ahead of a busy fixture schedule, this news will come as a boost for Pep Guardiola's side, who now consider the former Valencia man as their only recognised centre-forward, after Gabriel Jesus revealed his preference to play as a winger earlier this season.
Torres has made seven appearances for City so far this campaign – all as a central striker – scoring three times and registering one assist.