EDF said it expects the review to take place over the next few months and a decision to be made on immediate construction. It suggested the three-turbine project could be completed by 2020.
The 25MW project is planned for a site 4.5km from the Atlantic City coastline.
It was formerly known as the six-turbine 24MW Atlantic City project, prior to EDF's involvement in the site.
Since being awarded a final construction permit in 2012, it has been mired in delays, with state officials questioning its feasibility.
However, in January 2018, New Jersey governor Phil Murphy signed an executive order backing the deployment of 3.5GW offshore wind by 2030.
EDF said this first demo project is "a crucial first step" towards meeting that target.
"Our purpose with Nautilus is not just to deliver offshore wind power, but to leverage this initial build to help the New Jersey workforce quickly gain deep expertise in offshore wind in comparison with other states," said Doug Copeland, EDF Renewables regional project manager.