Both players have struggled with form and fitness since arriving at White Hart Lane last summer, and Sherwood believes that they will not be fit enough to be included in the first-team squad again before the end of the current campaign.
"Lamela is about and he is making progress," Sherwood revealed in his press conference ahead of Saturday's match against West Bromwich Albion.
"He is probably not going to play this season. He has been out a very long time and is going to need a pre-season before he can play.
"I am not sure how far Capoue is away but it is very doubtful whether he will play between now and the end of the season."
Lamela is currently struggling with back problems, while Capoue has been forced to sit out with an ankle injury.