The on-loan defender returned to parent club Chelsea for treatment after suffering the problem during Wolves' 3-0 defeat to Blackburn at the start of December.
Mancienne, who is in his third successive season at Molineux, took part in his first Wolves training session yesterday and is now hoping to play his part in the Barclays Premier League run-in as Mick McCarthy's side bid to avoid the drop.
The 23-year-old told www.wolves.co.uk: "It's not been the best time for me but I'm delighted to be back.
"It's been quite a troublesome injury and has probably been the longest one I've had. So it's great to have recovered.
"I've been working really hard on running and fitness work at Chelsea and trained a couple of times there last week. It was my first session back at Wolves on Monday and it felt good."
Source: PA
Source: PA