"I'm still optimistic on my return and I'm hopeful to be practicing by March 1st and hopeful to be playing by mid March," said George.
Mark Spears of Yahoo Sports had reported earlier in the day that George was looking toward a mid-March return, possibly including appearing in Indiana's game against the Boston Celtics on March 14.
George sustained a compound tibia-fibula fracture during a Team USA intrasquad scrimmage in August.
He underwent surgery and was expected to miss the 2014-15 season, but has said that he hopes he can play at some point this season.
The statement also stressed that the decision on his return belongs to the Pacers' medical staff, who have declined to discuss his recovery.
Earlier this month, Pacers president of basketball operations Larry Bird said the team will not hold George back "if he's able to go out there and play."
George, 24, averaged 21.7 points, 6.8 rebounds and 3.5 assists for the Pacers last season, earning All-Defensive team and All-NBA third team honors and his second All-Star appearance.
The Pacers (21-33) currently sit two games behind the Miami Heat for the No. 8 seed in the Eastern Conference.