The England international has not featured since the 1-0 defeat to Chelsea at the end of February after suffering the problem during a training session.
|10/1||Everton are 10/1 with William Hill to beat Newcastle 2-0|
"Phil is fully fit, it is now about making sure we're not taking any risks," said the Spaniard.
"We will make a decision tomorrow, we need to measure which game he will be involved in, whether it is Newcastle or Fulham (on Saturday).
"From a medical point of view he's fully fit."
However, midfielder Steven Pienaar is still a few weeks away from a comeback after his knee problem.
"He (Pienaar) he is doing well, there has been a problem in his cartilage," Martinez added.
"He will be (available) in a couple of weeks from now, it is a setback but he is trying to get fit as quick as he can."