Dutt has applied to the Pune divisional commissioner for parole on grounds that his wife is unwell. Accordingly, he is likely to be released from Yerawada Central Jail here in the next couple of days or so, the sources said.
This would be third time the actor would come out on parole in the past three months.
Dutt, 54, had been granted a fortnight's parole for medical reasons Oct 1, which was extended by another 15 days and he returned to the jail Oct 30.
The actor is presently serving the remaining 42 months of his five year sentence for his involvement in the March 1993 Mumbai serial blasts.
Having served 18 months in jail as an undertrial, Dutt started his stint in jail May 16 this year and makes paper bags which are sold outside through some NGOs.
Though he spent Diwali in jail along with other inmates, he is likely to enjoy Christmas and New Year with his family this time.
Dutt has acted in movies like "Munnabhai M.B.B.S", "Lage Raho Munna Bhai" and "Agneepath" in the past few years.