Anthony Volpe is ready to return to the majors, and yet he remains in the minors.

In a surprising development, given how Volpe has been treated since winning the everyday job in spring training 2023, the Yankees are not (yet) simply handing him back the reins to one of the most prized positions in baseball.

At least for the moment, the Yankees have a full-blown shortstop competition.

With José Caballero sizzling, Volpe will remain with Double-A Somerset at least through Sunday, manager Aaron Boone said, at which point the Yankees will have exhausted the 20 days Volpe is allowed to participate in a rehab assignment.

By Monday, the Yankees will have to decide whether to bring Volpe back to the majors — and if so, in what role — or whether to formally option him to the minor leagues, a step never taken in Volpe’s three major league seasons even through lengthy struggles.

During the majority of those seasons, though, the Yankees did not have Caballero or any legitimate alternative option at shortstop.

“José’s earned opportunities and been a key part of our club here and a part of our success here to start out the season,” Boone said before beginning a series with the Orioles in The Bronx on Friday. “So that’s part of it. And I think it’s just a situation where: I think one of the good things that’s happened for us as a team … is we have a lot of really good players and depth, and good players competing for important roles and spots on the club.

“José is part of that. Anthony we expect to be part of that as well.”

As recently as three weeks ago, general manager Brian Cashman said Volpe being the starting shortstop upon being deemed ready had “always been the plan.”

At that point, Caballero was scuffling on offense and defense and Volpe was on the verge of beginning his climb through the minors.

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But since April 11, Caballero has emerged as a pesky force who entered play 22-for-65 (.338) with a .915 OPS, three home runs and seven steals in the span.

“I’ve been feeling really good playing out there and just trying to help my team win,” said Caballero, who added that he reached a personal turning point when he stopped overthinking things.

His bat has taken off while his glove at shortstop has been steady and occasionally brilliant.

“[His defense has] been arguably as good as anyone in the league,” Boone said of Caballero, who essentially had to play perfect baseball for three weeks to create this controversy.

Since Volpe — the New York-native New Jerseyan who idolized Derek Jeter and was a first-rounder out of Delbarton School in 2019 — beat out Oswald Peraza for the everyday shortstop gig three-plus years ago, the Yankees have stood by a top prospect they believed would be the present and the future.

Never in a generally disappointing first three major league campaigns did the Yankees send him back to Triple-A Scranton/Wilkes-Barre for some fine-tuning.

Volpe hit for power (21 homers) but not much else (.209 average) in ’23.

He traded some of that pop for a more line drive-focused swing in ’24, but his OPS that season (.657) hovered in the same neighborhood.

Last season saw a similar and discouraging year-ending statline, and his defense declined perhaps because he played through a partially torn labrum in his left shoulder that required offseason surgery.

The Yankees’ hope has been that Volpe’s struggles, on both sides, could be traced to a bad shoulder that now has been fixed.

His minor league results — he hit .303 with a home run in his first 34 plate appearances — have been encouraging.

Volpe himself has told Boone and Cashman that he is healthy and able to help at the major league level.

And yet he remains a minor leaguer as the Yankees buy time and do not want to adjust the role of a streaking Caballero, who can play all over but acknowledged he feels at his best when he can focus on one spot.

Boone said he expects Volpe to be “a big part of this team,” which is not the same thing as declaring he will be the everyday shortstop.

“He absolutely feels like he’s ready to go and contribute here,” Boone said of Volpe. “We’ll ultimately make that decision when we think it’s best for not only him, but the club.”