Sources familiar with the situation tells us Live Nation -- which produced the 2016 Saint Pablo Tour -- has been in talks with Kanye's team and, as one source puts it, "We're ready to jump as soon as he gives the green light."

Various sources tell us Kanye is physically and mentally back ... in fact, better than they've ever seen him. They say he's focused, engaged, and has overcome the issues that landed him in the hospital last year.

We're told when Kanye decides to go back on stage, it will not be a replica of last year's tour. Although the floating stage was pretty awesome, we're told Kanye will almost certainly improve on it or replace it, as well as other various effects.

We're also told he will update the set list. TMZ broke the story ... Kanye had gone to a Wyoming retreat over the last few months to work on a new album.

But ... Kanye is aggressively avoiding artificial deadlines, because it creates stress that leads to bad things. He doesn't have a specific timeline for releasing the album or firing up the tour ... although our tour sources say early next year is the goal.