Thomas underwent hip surgery last March and could return as soon as a Feb. 11-13 homestand against the Miami Heat and Sacramento Kings, sources told Wojnarowski.
The latest he's expected to be out is Feb. 22, when the Nuggets resume play after the All-Star break against the Dallas Mavericks. The two-time All-Star will be participating in full five-on-five scrimmages soon.
Thomas is just two years removed from being named to the All-NBA second team when he averaged a career-high 28.9 points and 5.9 assists per contest during the 2016-17 season.
A series of hip injuries limited him to 32 games last season, and he's also been sidelined so far during his first year with the Nuggets. The 29-year-old agreed to a one-year, $2-million deal with Denver this past summer.
The Nuggets (30-14) are second in the Western Conference entering play on Friday.