The 31-year-old has recovered from a hamstring injury and will be subject to a late fitness test ahead of Tuesday's clash with Newcastle
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.
Youngster John Stones has deputised for the 31-year-old, but Everton boss Martinez has announced that his skipper could be available for his side's trip to Newcastle on Tuesday.
"Phil is fully fit, it is now about making sure we're not taking any risks," the Spaniard told reporters.
"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.
"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."