Kompany began the season in the City first team, but the club captain has not featured for the Premier League outfit since the end of August after sustaining a calf problem on international duty with Belgium.
The centre-back has now been absent for six weeks but while the 31-year-old remains on the sidelines, Guardiola has delivered a positive injury bulletin.
The 46-year-old told reporters: "He is much, much better but still injured. Hopefully, it is the last part. It depends on him when he will come back. He will notify us."
Kompany has made just 18 appearances for City in all competitions since the start of last season.