McDavid, who resumed skating last week, has missed the past 22 games since being injured against the Philadelphia Flyers on Nov. 3.
"I feel very good. The bone is coming along and personally I feel good, physically I feel good and mentally I feel good," McDavid said on Sportsnet 590 The Fan. "It's been all sorts of positives lately. Obviously it's not the position I'd like to be in, but it's important that you find the positives in any situation."
McDavid, the No. 1 overall pick in the 2015 NHL draft, suffered the injury when he got tangled up with Philadelphia defensemen Michael Del Zotto and Brandon Manning, and fell shoulder-first into the end boards behind the Flyers' net.
"The return [date] I don't really know yet," McDavid said. "The bone only heals as fast as it heals. Nothing I can really do about that. Just trying to be as ready as I can for when I come back."
Prior to being injured, McDavid, who will turn 19 next week, had five goals and 12 points in 13 games.
Since McDavid's injury, the Oilers have gone 10-11-1, but they have flourished of late, going 7-3 in December.
"We've been talking about just getting better and sticking with the process," McDavid said. "Obviously you're starting to see it pay off a little bit."