Cahill missed the end of the Toffees' 2007/08 campaign as he was forced to undergo an operation on a persistent foot injury after breaking a metatarsal in March.
The Australian international is now in Sydney where he has begun a swimming rehabilitation programme and Cahill feels his recovery is progressing well.
"Everything is going right on schedule," the 28 year old said.
"I have seen the specialists again, and they let me go in the swimming pool today. I had a long session which was pretty tiring.
"The swelling has gone down, and everything looks really good."