Bale has not featured for Los Blancos since a Champions League group game with Sporting Lisbon in November, and last week manager Zinedine Zidane revealed that he was unlikely to return before their last-16 second leg against Napoli in March.
However, the 27-year-old has now returned to full training and is expected to make an appearance off the bench at the Bernabeu on Saturday.
"He will be in the squad and the plan is for him to have some minutes. We're keen and he's keen as well," Zidane told reporters.
"Bale is a very important player for us. We know the quality and speed that he has, and the damage he can cause the opposition.
"He's very happy to return to the team, to be with us, and be able to play again."
Bale has scored seven goals in 16 appearances for Madrid this season.