The 43-year-old underwent surgery to remove a tumour in his back last month, with assistant Ernest Faber taking charge of first-team duties for the remainder of the season.
PSV announced on Thursday that Cocu had received good news regarding the tumour, and that they hope to have him back in charge for the new campaign.
"The tumour was completely removed from his back without any complications and was, as expected, benign," PSV said in a statement.
"Phillip Cocu can now focus on full recovery.
"It is expected that the rehabilitation process will take several months, after which Cocu will be able to return, hopefully for the start of the new season."
PSV sit fifth in the league table and have lost both matches since Cocu entered hospital.
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