Betances has missed the entire 2019 season thus far with a lat injury.
The 31-year-old veteran pitched for the Double-A Trenton Thunder on Friday, allowing two hits and one earned run on a home run and striking out one in one inning of work.
Over the past five seasons, Betances has been one of the most dominant relievers in baseball. He is a four-time All-Star and owns a career MLB ERA of 2.36 to go along with a strikeout rate of 14.6 batters per nine innings.
Betances has some experience as a closer with 36 career saves, but he has primarily been a setup man. As closer Aroldis Chapman's bridge man last season, Betances went 4-6 with a 2.70 ERA and 1.05 WHIP, along with 115 strikeouts in 66.2 innings.
Despite never throwing more than 90 innings in a season, Betances has topped 100 strikeouts in each of the past five campaigns.
With Chapman, Zack Britton, Adam Ottavino and Tommy Kahnle leading the way, the Yankees arguably have the most talented bullpen in baseball already. They haven't been perfect this season, though, as their 4.06 bullpen ERA is eighth in Major League Baseball, and their .240 batting average against is 11th.
Betances' return comes at a good time for New York since most of its top relievers have shouldered a heavy workload this season and could use some rest down the stretch ahead of the playoffs.
Per Wagner, Boone is hoping to build up Betances' velocity in the coming weeks:
In addition to Betances, the Yankees have some other big returns on the way as well.
According to Pete Caldera of NJ.com, Boone said Luis Severino will start for the Yankees on Tuesday against the Los Angeles Angels, and outfielder Giancarlo Stanton will likely return during the upcoming homestand as well.
Additionally, Jordan Montgomery is set to start Sunday after missing nearly all of the past two seasons while recovering from Tommy John surgery.
Severino has not pitched at all for the Yankees this season, and Stanton has appeared in just nine games.
The Yanks already have an embarrassment of riches that has led them to an MLB-best 97-52 record, but with Betances, Severino, Stanton and Montgomery all on the verge of coming back, they may be cementing themselves as the World Series favorites.