Arsene Wenger has also updated reporters on the status of Santi Cazorla and Danny Welbeck.
The French midfielder has been missing with a medial knee ligament injury he picked up in the loss to West Bromwich Albion at the end of November.
That had been a huge blow to the Gunners, with Coquelin having played a key part in their success across the end of last season and the beginning of this season.
It had initially been feared he would be missing for as many as three months but Wenger has confirmed to reporters that Coquelin is available, while also updating the status of several other stars, including Santi Cazorla and Danny Welbeck.
“Francis is available to play now because he has passed two weeks of full training,” he told arsenal.com.
“Jack and Santi are progressing well but they are at least a few weeks away. But these two apart, it is just about competitiveness and match fitness.”
“Danny Welbeck is not completely ready but he is not far. He needs a game or two because he’s been out since last April.”
Arsenal haven’t done too badly in Coquelin’s absence, with them currently sitting third in the table and just three points behind leaders Leicester City.
Mathieu Flamini has stepped up admirably in his compatriot’s absence, with several impressive displays proving he still could be an asset to Wenger beyond this season.
However, there is no denying that Coquelin’s return will be warmly welcomed, with him sure to be like a new signing and provide a timely boost to their title hopes in the second half of the campaign.