Ferguson will name him in the senior squad at the first opportunity.
"Michael has been something of a forgotten man, which is a terrible shame because nobody deserves the kind of bad luck he's had this season." said the United manager.
"But he has been training really well and is almost back to complete fitness, which is good for him and the team. His return could not be better timed because he will provide us with valuable extra options up front.
"He is a top-class goalscorer as he has proved with vital contributions since he came to United. He is also a terrific professional, who prides himself on what he is capable of on the football field. It will be good to have him back."