The 21-year-old Portuguese saw an outstanding 2020/21 campaign cut short as he fractured his patella at Fulham in April.
It is now nine weeks since he had surgery, though, and it is believed everything has gone to plan thus far.
Neto posted a series of pictures through his official Twitter account this week, showing him working on his upper body in the gym.
The exciting winger is thought to have returned home for the close season having been ruled out of the Euros, and is now preparing for life under new Wolves boss Bruno Lage.
He will look to increase work on his knee over the coming months as he hopes to return in the autumn.
The severity of Neto’s injury came as a shock as he had spent the rest of the game watching on from the stands at Craven Cottage, with a scan later revealing the seriousness of the issue.
Despite the injury, he still ended the 2020/21 campaign as the club’s joint top scorer alongside compatriot Ruben Neves, with five goals.
He also got the most assists in the Premier League for Wolves, with six.
Neto then cleaned up at the end of the season awards as he was named both fans’ player of the season and players’ player of the season.
Jonny Castro Otto, meanwhile, is due for a longer lay-off but continues to do rehab work after suffering a second ACL injury.
The defender is believed to be spending time back in Spain after having an operation in April.
Otto had only just returned from several months on the sidelines when he injured the same knee in training.
He played seven times in total in 20/21.
Young defenders Dion Sanderson and Oskar Buur have also been going in to Compton to receive treatment for injury issues.
Sanderson and Buur both spent last season out on loan but picked up knocks while at Sunderland and Grasshoppers respectively.
Sanderson caught the eye with the Black Cats in League One but did not play a part in their eventual play-off shortcomings due to a back issue.
The details of Buur’s problem are not known, but the Dane joined Grasshoppers on an 18-month loan deal in January and helped them to Swiss Challenge League glory.
The 23-year-old right-back made 10 appearances for the club who are owned by Jenny Wang, the wife of Fosun chairman Guo Guangchang.