France World Cup winner Lloris is back in training at Spurs, but Mourinho is refusing to give a possible return date. Lloris has fully recovered from his dislocated elbow injury.
"I told [you] one month ago, I said February. So the normal thing is February," Mourinho said.
"If you ask me late February or early February, at this moment I go more for early. Things are going well. He's getting his confidence back, he's training so I would say he's one of our new players in the January transfer window."
After the trip to face Watford on Saturday, Tottenham host Norwich in midweek and visit Southampton in the FA Cup fourth round next weekend. Their first game in February is a home match against Manchester City on February 2.