Line-out general Evans had keyhole surgery after the November international against Samoa and was expected to be out until the end of this month but could be poised to give the Ospreys a massive lift.
He was the only player to feature in every moment of Wales' five matches in their Grand Slam winning 2012 RBS 6 Nations campaign but was absent from the Ospreys' back-to-back group matches against Toulouse last month.
"Ian is recovering well," said head coach Steve Tandy.
"He will be an outside possibility to be in contention for the Leicester Tigers match.
"He is up and around and is moving pretty well so it is something we will now review after the match against Zebre this weekend.
"Ian has been coming through pretty well so hopefully we will have him around during the end of the Heineken Cup group campaign."
But fellow Ospreys lock and regional captain Alun Wyn Jones, who injured a should on international duty against Argentina in the autumn series, is still some distance off a full recovery and will not feature in this month's European contests.