Hospital Albert Einstein said in a statement on Wednesday that Edson Arantes do Nascimento is “stable and expected to be released on the next few days."
Pele's assistant, Pepito Fornos told The Associated Press that the legend is having chemotherapy sessions to treat the tumor that was found during routine exams at the end of August.
According to reports, Pele was briefly put in intensive care after surgery on his right colon.
In October, the 81-year-old was discharged from the hospital where he received treatment for nearly a month.
Then, he wrote in a post on his official Instagram: "I am so happy to be back at home."
"I want to thank the entire Albert Einstein Hospital team, who made my stay a pleasant one, with a humane and very affectionate welcome.”
Pele, regarded as the greatest ever football player, won the 1958, 1962 and 1970 World Cups, and remains Brazil national football team's all-time leading scorer with 77 goals in 92 matches.
Pele removed a tumor from his colon on September 4 and spent days in intensive care after the surgery.
(With AP inputs)