Stanton, 29, has been on the injured list since April 1. He originally went down with a left biceps strain during the Yankees' opening series against the Baltimore Orioles.
Stanton later suffered a left shoulder strain. He has two hits in eight at-bats this season.
Stanton hit .266 with 38 home runs and 100 RBIs last year. He led the major leagues with a career-high 57 homers in 2017 but has never topped 40 home runs in another season.
Stanton is a career .268 hitter with 305 career home runs.
The Yankees enter Monday's game against the Orioles with a 28-17 record. New York is half a game ahead of the Tampa Bay Rays in the AL East Division.