The frontman was initially expected to be sidelined until Christmas after going under the knife, but is making impressive progress in his rehabilitation.
He required an operation after suffering the injury in England's 3-1 victory over Switzerland on September 7.
Spurs boss Harry Redknapp resigned himself to the fact that he would be without Defoe for the entire Champions League group stage and the busy festive period.
However, the 28-year-old frontman could now be back in time for a European encounter with Werder Bremen on November 24.
He has already started gym work and is expected to be running again by the end of the month.
Tottenham coach Les Ferdinand said in The Sun: "Jermain is progressing very well in the gym at the moment working on building up his muscles in and around the calf.
"He is due to start running soon and could return for us next month.
"Jermain's return will be a major boost for us. It will put more pressure on our strikers, which will be great for us."