Frederic skated alongside fellow injured forwards Connor McDavid and Evander Kane at the Oilers’ most recent practice.
Knoblauch said Frederic would be the first of the trio to return, possibly on an upcoming three-game road trip that sees Edmonton visit San Jose on Thursday, Los Angeles on Saturday and Anaheim on Sunday.
Frederic, 27, suffered a lower-body injury as a member of the Boston Bruins in February and was ruled out on a week-to-week basis.
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He was acquired by the Oilers soon after in a three-team deal with the Bruins and New Jersey Devils.
A depth centre, Frederic has eight goals and 15 points in 57 games on the season, while throwing 155 hits. Last season, he scored a career-high 18 goals.
Meanwhile, Goalie Calvin Pickard will likely get all three starts in California, Knoblauch said, as Stuart Skinner remains doubtful to return on the trip due to an undisclosed injury. Olivier Rodrigue will continue to serve as Pickard’s backup.