Ivory Coast international Bony rejoined the Swans for a second spell from Manchester City during the summer, but his first-team opportunities have been restricted due to two separate hamstring injuries, with his last appearance coming during the 1-0 defeat against West Ham at the end of September.
Midfielder Sanches was also a summer arrival at the Liberty Stadium after joining on loan from Bayern Munich, but a thigh injury has seen him miss Swansea's last three matches.
However, Clement has now confirmed that both players have returned to first-team training and are expected to be fit for next weekend's Premier League clash with Burnley at Turf Moor.
“Both Wilfried and Renato will be available for selection for Burnley,” Clement confirmed on the club's website. “It is good to have them back as they are players that can bring a lot to the quality of the squad."
Kyle Bartley is the Swans' only definite absentee for the match against the Clarets, with Clement hoping that remains the case following the conclusion of the international break.
He added: “We will, as it stands, go into this game with virtually a fully-fit squad.”