The Frenchman was admitted to Queen Elizabeth Hospital in Birmingham last Wednesday complaining of chest pains, which transpired to be a dissection of the descending aorta.
Assistant manager Gary McAllister announced that a “favourable” scan has shown that Houllier will be well enough to leave shortly. However, he is not expected to take back the reins until next season.
The 63-year-old has a history of heart troubles. He was forced to take five months out in 2001 during his time managing Liverpool, when he required life-saving heart surgery.
McAllister will manage first team affairs for the remainder of the season. Their next fixture will be Saturday’s match against West Bromwich Albion.