The 29-year-old has been out of action since September 2008 with a knee injury.
“He’s shown for the first time he is almost ready to play,” said United boss Sir Alex Ferguson.
Hargreaves will make his return for the United reserves against Manchester City’s second string on Thursday.
Ferguson added: “He has been training with the first team, which has been good to see and is pencilled in for a game with the reserves on Thursday.”
