The center had been dealing with the hand injury throughout 2016-17. The Islanders told Newsday that his recovery is on schedule.
Tavares, the No. 1 overall pick in the 2009 draft, is set to play next season on the final year of his contract. Newsday reports that the Islanders are likely to offer him an eight-year contract that could be worth up to $80 million.
During exit meetings last month, Tavares implied he was ready to begin negotiations.
"Ideally, you'd like to get something done as soon as possible," Tavares told reporters. "But at the same time, like I said, it's a process, and I think we've seen other guys go through it and it doesn't necessarily happen the first day it can happen. I'm just speaking out loud. We'll see how things go."
Tavares led the Islanders with 66 points during the season. He missed the final five games of the regular season with a hamstring injury as the Islanders missed the playoffs by one point.