The midfielder has been out of action since November with anterior cruciate ligament damage but is expected to make his comeback before the end of the current season
It was feared that the midfielder would miss this summer's tournament in Brazil when he tore the anterior cruciate ligament in his right knee during a friendly clash with Italy in November.
However, Madrid coach Carlo Ancelotti is optimistic that Khedira will be able to play some part in the closing stages of the Liga leaders' 2013-14 campaign.
"His recovery work is very good," the Italian told reporters on Saturday. "He has started to run again after three months. Everything is going very well.
"In two weeks he can return to Madrid. We hope that he can return playing before the end of the season."
Khedira has been a regular in the Blancos line-up since joining from Stuttgart in the summer of 2010.