The 27-year-old also established himself as Wales head coach Warren Gatland's first choice scrum-half, only to pick up a foot injury during a World Cup warm-up clash with Italy.
That setback ruled Webb out of the entire World Cup and the start of the GUINNESS PRO12 season and Ospreys have lost five of their opening nine league games without him.
Tandy revealed he is targeting a return to action next month, when the Welsh region take on Exeter Chiefs in the Champions Cup, but the head coach admits it may take even longer than that.
"Rhys is progressing really well," he told the South Wales Evening Post.
"He is fantastically diligent in his rehab and does everything by the book to give himself the best possible chance of getting back ahead of schedule.
"If he puts himself in contention for the Exeter game, happy days, but we will not be rushing him for the sake of two or three weeks.
"Sometimes it's a question of just making sure he doesn't hurry too much.
"Forecasting when a player will be ready to return isn't a precise science, but it would be good if Rhys was up and running by mid-February. That's probably a realistic target."
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