The 30-year-old striker has missed Spurs' last three games with a hamstring problem and gash on his heel.
However, he returned to training with the squad on Tuesday and is now in line to make his comeback against the relegation-haunted Black Cats.
"It's great to see him back out there," said Sherwood.
"We'll continue to assess him as the week progresses and hopefully he'll then be back in contention against Sunderland.
"He's obviously been a big miss. He's been outstanding for us."
Adebayor has scored 11 goals for Spurs since being recalled to the side after Sherwood took over the reins from Andre Villas-Boas in December.
Watch Tottenham take on Sunderland live on Sky Sports 1HD next Monday from 7pm.