Jesus has been sidelined since breaking his metatarsal in February, but returned to training earlier this month and will travel with the squad to Wembley this weekend.
The 20-year-old Brazilian made a fine start to his Man City career with three goals in his first four games, and now looks set to be involved during the run-in.
"[He's] much, much better, today he made part of training with us. He's is coming back with his happiness, and we are so happy. We are going to travel, all the group, to Wembley, he will be part of that and after that we'll see," manager Pep Guardiola told reporters.
"The impact of Gabriel is shown by how difficult it is to come to the Premier League and have the effect he did. Against Tottenham, Swansea [you can see his impact].
"He had all Europe in his hands and he decided to come here, we cannot forget that. That's why we are so happy that hopefully he can help us, along with Sergio [Aguero] and the others before end of season."
City will be without centre-back John Stones for the semi-final, though, as he remains sidelined with a muscular injury.