Flanagan hasn't played since pre-season because of a knee problem that has kept him sidelined during this campaign.
The defender has said he should be back in full training today having previously done light training with the rest of the squad.
Last season, Flanagan impressed when he was called upon by Brendan Rodgers to play predominantly on the left side of the defence, earning him the nickname of 'The Scouse Cafu'.
He said: "I'm delighted. I'm 100% now and it is exciting times. I'm back in training with the lads and feeling great.
"I can't rush it. I've got to bide my time; I'm obviously not match fit so I've just got to keep going and it will all come together nicely I think.
"It has been frustrating. I had a problem with my knee and thought I would be back a lot quicker than I have been.
"Everyone had a great year last year and we were unlucky in the league. For me personally it was a great season, to be in the squad.
"I wanted to kick on this year, but unfortunately with the injury I haven't. I would say it is the most frustrating season I have had to date."
Given Liverpool's new system, if Flanagan is fit enough for any game time, one would imagine it would be from the bench in the closing stages of the game in order to build up some confidence, and re-adapt to the first team environment.
Last season he showed that he has a lot to offer. He could get up and down the pitch well, as well as earning the reputation of a no nonsense player in the tackle.
But for Flanagan, it may have to be next season when he looks at starting to get some more games for the Reds - provided, of course, his contract situation at Anfield is sorted.
It would be good for Flanagan to feature a fair bit for Liverpool next season as it would keep that connection going between those on the field and in the stands, given that he is a local lad.