A hamstring problem had left England manager Fabio Capello no choice but to take the winger out from England's 1-0 win over Wales in their Euro 2012 qualifier at Wembley on Tuesday, and the injury had left Arsenal manager Arsene Wenger nervous about the availability of the player.
However, according to reports in the Guardian, the 22-year-old has been cleared to play,
which will be a welcome boost for the Gunners, as they seek to revitalise their Premier League season, after losing to both Liverpool and Manchester United in recent weeks.
As it stands, Wenger's squad languish in the 16th spot of the table, with only one point to show for their efforts so far, and the Frenchman will be hopeful that Walcott's return will be a tonic for his hamstrung side.
As it is, the Gunners have a significant number of their key players kicking about in the treatment room, rather than on the pitch, with Thomas Vermaelen out for five weeks because of an ankle problem, and Bacary Sagna out from illness. Jack Wilshere is also out with a long-term ankle injury, and Sebastian Squallici and Abou Diaby round up their long injured list.
There was some joy at the Arsenal training ground though, as Per Mertesacker is likely to make his debut against Swansea following his £10 million move from Werder Bremen last week.
The 26-year-old Germany defender is excited at the North London club, admitting: " "It is exciting. It is a new phase in my life and I am really looking forward to it, but I also feel nervous.
"It is like before the first day at school. Now I have a new challenge in a new country, a new style of play and a new language and I am ready for it", he added.