Claudio Bravo could return for Chile's final group game at the Confederations Cup on Sunday.
The Manchester City goalkeeper has not played since April 27 when he injured a calf muscle in the Premier League game with rivals Manchester United.
But he has trained with the rest of the Roja squad in Russia and could replace Johnny Herrera for the clash with Australia in Moscow.
Chile boss Juan Antonio Pizzi said: "Claudio is fit, he's managed to train the last couple of days just like his team-mates. He's available and ready to play. We'll decide who plays on Sunday."
Bravo's two-month hiatus from competitive action could be a factor, however, when Pizzi comes to selecting his team for a game in which the South American champions require a solitary point to progress to the semi-finals.
"Obviously we will take that into account, as we take into account we're talking about quality players so it's not that important they haven't played in the last couple of months," he added.
"In the last two training sessions he has been fit, but yes we will bear that [his lack of playing time] in mind."
Alexis Sanchez will play at Spartak Stadium after becoming Chile's leading goalscorer when netting the opener in Thursday's 1-1 draw with Germany.
And Pizzi is expecting more of the same from the Arsenal forward against the Socceroos.
"Alexis is the same as always, he's always motivated and very grateful to his team-mates who made that milestone possible," he said.
"Because of our style, we put personal milestones in the background, but logically for any human to be recognised in this way is always gratifying."
Despite Chile being in a strong position in Group B, and a possible last-four clash looming on either Wednesday or Thursday, Pizzi will resist the temptation to make wholesale changes.
He said: "We are going to select the best team possible. We have not yet reached our first goal which is to get to the semi-finals.
"Whoever plays, our goal will always be the same, to qualify for the next round.
"Our style is one of high intensity. This physical demand takes its toll, but just as we get tired the other teams are also getting tired.
"We're extremely well prepared, we face every match knowing we have to make a great effort to beat our opponent."
Australia need to win by two goals to advance at Chile's expense and Pizzi is wary of Ange Postecoglou's men.
"They are a very experienced team, they have evolved in the last few years and this is the result of their participation in the Asia Cup, with strong opponents that have always made them be competitive in every match," he said.
"They are very passionate, very confident, very motivated and they are looking forward to playing teams they don't normally play against like us. They also have the dream of making the semi-finals."