Yeo was named in the reserves for their final-round clash with Wests Tigers, and is considered a fair chance of playing on Sunday.
The 31-year-old has not featured since putting off surgery when he injured his pec in round 23, with the expectation he would be back for knock-out finals.
But it is understood he has trained since last week, resuming tackling and contact work.
Penrith teammates were unsure whether their co-captain would face the Tigers, with Yeo telling media on Monday the injury was travelling well.
Regardless, his looming return comes with Lindsay Smith having grown into the No.13 role, with every chance he will move to lock once Yeo eventually finishes up.
"It's been enjoyable, but obviously hopefully we get Yeoy back soon," Smith told AAP on Wednesday.
"When I play front row, I'm not a traditional front-rower. I try to ball-play a little bit more as well. So it's not been too dissimilar.
"And even playing front row, I've learned things off Yeoy and tried to sort of mirror certain parts of my game around what he does.
"And to learn off the best in the world it's pretty special."
Penrith will have hooker Mitch Kenny back in a massive boost ahead of the finals, with the No.9 having not played since he broke his leg in round seven.
The Panthers have a 76 per cent winning rate with he and Nathan Cleary in the team together since 2023, with Kenny key in both line speed and service.
Smith suggested Kenny was one of the most underrated players in the NRL, with Penrith's transition from Api Koroisau seamless in recent years.
"He's an amazing player. Hopefully in the near future, a representative player too," Smith said.
"Freddy (Lussick)'s done an amazing job while Kenny's been out.
"But to have Kenny back, he brings so much energy with the ball, with the ball, without the ball. I can't wait to get back out there."
Penrith have opted against joining the Sydney Roosters and Cronulla in resting players in the final round.
The Warriors will also go in close to full strength against Manly, with just one for-and-against point separating them and the Panthers in the race for the minor premiership and $100,000 in prize money.
While there is minimal difference in the finals between coming first and second, there are advantages in grand-final week with choosing training times, scheduling of media commitments, change rooms and jersey selection.
"The biggest thing (playing this week) is cohesion," Smith said.
"Week in, week out, you want to play your best footy. And I feel like we're coming to a good point."
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