The duo could both be in line to take on Leicester City this weekend.
The midfielder picked up a knew injury in the 3-3 draw with Bournemouth and has since missed the win over Middlesbrough and the draw with Norwich City.
He has been sorely missed in the Everton midfield, although summer signing Tom Cleverley has stepped up and done well in his absence after his own return from injury.
The Republic of Ireland midfielder could return for this weekend’s clash with table-topping Leicester City though, with Martinez saying he is not far away.
"James McCarthy has started running,” he told Everton’s official Twitter account. “We will assess him today and tomorrow then make a final decision. He's not far away."
The Blues boss has also confirmed that John Stones is in perfect condition after his injury scare last week.
The young defender rolled an ankle before the clash with the Canaries but played the game, while he also went down with a knee injury in the game, again shaking it off to finish the match.
And Martinez says there has been no reaction to those knocks throughout the week and he will be fit to take on Claudio Ranieri’s high flying side come Saturday.
“John Stones has been able to do his normal work,” he added. “There has been no reaction to the ankle and knee knocks - he's in perfect condition."