It is also believed that the Argentina striker is likely to drop his appeal to the Premier League against a six-week club fine totalling around £1.2million as part of the peace moves.
Tevez is flying back from Argentina on Monday after being frozen out at City since he refused to warm up during a Champions League defeat to Bayern Munich three-and-a-half months ago, but his advisor, Paul McCarthy, told Sky Sports News: "Carlos will be back at Manchester City tomorrow [Tuesday]."
Tevez will need two or three weeks back in training to regain full fitness but should then be available for selection by Mancini as City, who returned to the top of the Premier League with a 1-0 win at Aston Villa on Sunday, look to push on for the title.
"He wants to be back playing football and that's what he's best at doing," McCarthy added. "In the couple of seasons before this year, which has obviously been fairly awful in terms of everything that has gone on post-Munich, he was the leading goalscorer for Manchester City.
"He needs to be back, he needs to be pulling on a Manchester City shirt again, he needs to be doing what he does, and that's score goals and help his team.
"And he wants to help Manchester City to win the title and I think Roberto Mancini has opened the door now. Once Carlos is back in the country, once Carlos gets his fitness back, I think he will be an asset for City."
The latest development comes after an expected move in the transfer window came to nothing and following negotiations between City's acting chief executive John MacBeath and Tevez's representative Kia Joorabchian.
McCarthy added: "There have been some very sensible discussions which have taken place in, probably, the last 10 days and I have to say there has been a thawing on both sides. Carlos wants to be back, he wants to be playing football again. Roberto Mancini has more than opened the door for him. Now it's a case of him getting his fitness back.
"Suddenly you've got a man who won the golden boot in the Premier League last season. It's been an incredibly difficult time, certainly from Manchester City's side of things, but I think now there is an understanding that by far and away the best thing is for Tevez to be back and playing football for Manchester City again."