The striker is lacking match sharpness having suffered with a number of injuries over the past seasons, but he is starting to step-up his comeback.
Sigurdarson played for Wolves' development side in midweek, and Jackett believes that the 24-year-old could be back available for selection in the new year.
“You can’t have enough forwards and I’ve been pleased with what he’s done so far,” Jackett said.
“Also in training, he’s been training with the first team and looked good.
“I don’t think he’ll be far off and he’s an option for us, building towards January - he’ll be someone I consider.”
Sigurdarson’s last Wolves appearance came back in 2013, when the club were still in League One.
The Midlands outfit have shifted the forward out on loan to Molde and FC Copenhagen in the past two seasons, but he could come back into their first team soon.
Wolves have found it difficult to find a prolific striker this season, and they have scored 24 times in their first 19 Championship matches – leaving room for improvement.
If Sigurdarson does come back into Wolves’ team, the Icelandic attacker will have to compete with Adam Le Fondre and Benik Afobe for a place up front.