The 23-year-old has missed Milan's last two Serie A fixtures against Sampdoria and Juventus after sustaining the injury during February's 1-0 defeat to Atletico Madrid in their UEFA Champions League last 16 first leg tie.
Balotelli was also absent for Italy's 1-0 defeat against Spain in Madrid on Wednesday, but Milan head coach Clarence Seedorf confirmed the former Manchester City man is ready to return.
"Balotelli is fine," he said. "He is still feeling a bit of pain but he needs to learn to live with it."
The Italy international is Milan's top scorer in Serie A this season with 10 goals in 18 appearances.
His return provides a boost to a Milan side that currently sit 10th in the league, six points below city rivals Inter, who currently occupy the final UEFA Europa League spot.
After Saturday's encounter with Udinese, Seedorf prepares his men for a trip to Vicente Calderon where Milan will look to overturn their one-goal deficit against Atleti in the Champions League.
