The duo have been on the sidelines since Town’s 2-1 win over Colchester United on November 19th due to hamstring and knee injuries respectively.
“They’re looking good,” Way said.
“I can’t promise they’re going to start but they’re looking good.
“They’re training hard and a getting a sweat on everyday so for me, that shows a desire that they’re going to be back on the field very soon.”
Dolan and Ward represent the Glovers’ only injury concerns going into the Boxing Day clash with Exeter City at Huish Park.
Town have been fortunate with injuries this season and have fielded a total of just 19 players all campaign – a statistic Way is proud of.
He said: “We’ve had good stats this year as far as injuries go with such a small squad.
“To field only 19 players, the fewest in the football pyramid, that’s an incredible stat.
“I don’t want that to change as that would be disappointing and if it does change it show they’re not living well.”
Tickets remain on sale for the visit of Exeter on Monday. Fans can purchase online or by phone on 01935 847888.
Fans are reminded that ticket office opening times have been changed for the Christmas period. Click here to see the Christmas opening times.