After spending six months on the sidelines recovering from an Achilles tendon injury, it was feared that the French center-back suffered a setback Tuesday when he hobbled off the pitch during a match with Arsenal's under-21 squad.
Although he won't be involved in Arsenal's match Wednesday against Manchester United, the team suggested Koscielny could be available for Saturday's encounter against Huddersfield Town based on an assessment ahead of the match.
Along with Tuesday's match, Koscielny also played 45 minutes for the Arsenal under-23s last week against Derby County.
Koscielny ruptured his Achilles tendon in the Europa League semifinal second leg against Atletico Madrid in May. The injury ruled Koscielny out of the World Cup in Russia where his native France went on to win the tournament.
His agent revealed that before the injury, Koscielny was considering bringing an end to his eight-year association with Arsenal.
Koscielny's impending return will be welcome news for Emery, who's been without a handful of his top-choice defenders - such as Nacho Monreal, Sead Kolasinac, and Sokratis Papastathopoulos - at various points in his first season since taking over for legendary manager Arsene Wenger.