Young, 27, has been sidelined since sustaining a sprained right knee on Oct. 29 during a road victory over the Brooklyn Nets.
He was initially forecasted to miss four weeks.
The four-time All-Star averaged 17.8 points and 7.8 assists in five games. He shot just 19.2% (5 of 26) from 3-point range.
In his eighth NBA season, Young has career averages of 25.2 points, 9.8 assists and 3.5 rebounds in 488 career regular-season games. He has made 1,282 3-pointers while sinking 35.1% of his attempts.
Young led the NBA in assists (11.6) last season while averaging 24.2 points in 76 games.
The Hawks are 13-9 since Young was lost to the injury.
