The South Korean, who suffered a double fracture of his right shin in a pre-season game against Newport County, was expected to miss the current campaign.
However, the 24-year-old has now returned to England after a spell in his homeland, and could be ready for a return to action in February.
"Lee Chung-Yong fully fit is worth £10-20m, that's how good this boy's going to be," said manager Owen Coyle. "He was set for, I believe, a sensational season.
"It was the first year we managed to get him four or five weeks of a break because he'd played consistently for two years and pre-season he looked unbelievable and we were all excited about what was going to happen.
"Unfortunately it was taken away from him with the injury but to have him back and continuing his progress and his rehabilitation is great."
The Trotters host Sunderland in the Premier League on Saturday.