Jones suffered damage to his calf muscle in his country's 24-15 defeat to South Africa two-and-a-half weeks ago, with the 32-year-old forced to leave the field with just over half an hour played of a pulsating encounter in Cardiff.
He missed Wales' subsequent wins over Argentina and Tonga as a result and won't face Australia this weekend, but the Ospreys are confident he could take the field for the must-win clashes with Castres on Friday, December 6 and 13.
"We haven't ruled Adam out of the European games. Hopefully, he will be ready to go," said Ospreys boss Steve Tandy, who has recently seen fellow Wales cap Aaron Jarvis recover from a long-term injury.
"He won't be too far away. He is coming along nicely, but we will review that week by week and then see his availability for the Heineken.
"But it has been a real positive to get Aaron back and come through a game (against Zebre) and Dan Suter has done outstandingly well through the LV= Cup and also did well against Munster when he came on and again against Zebre at the weekend. We are really pleased with that department, anyway."
A returning Jones would be a big boost for the Ospreys given his stellar reputation at scrum time, especially as Castres have built their own success on a strong setpiece.
Tandy's troops are in desperate need of back-to-back wins at the Stade Pierre Antione a week on Friday and the Liberty Stadium seven days later as they look to keep their latest European dream alive after a slow start.
The Ospreys lost both their opening fixtures last month, slipping to a 19-9 defeat at home to triple Heineken Cup kings Leinster before being beaten 27-16 by Northampton Saints at Franklin's Gardens. They currently sit bottom of Pool 1 without a single point to their name, eight points behind leaders Leinster, five adrift of Northampton and four shy of Castres.