The 25-year-old midfielder has been out of action since rupturing his cruciate ligament in March, but it is believed that he will return before the end of the year.
"Mark is back on the field doing his final stage work now. It will take a few weeks for him to get his fitness back but he's doing really well at the moment," Dean told Sky Sports News.
"He is ahead of schedule but it is obviously not something you can rush. We don't want him coming back and then getting re-injured. We need to make sure."
Davies joined Bolton from Wolverhampton Wanderers in 2009.