Currently fifth in the standings, Marquez fractured the little finger of his left hand in a dirt bike accident while training on Saturday.
He underwent surgery that afternoon and following a medical check-up on Tuesday has been cleared to race at Jerez.
"Today I underwent another examination by Dr Mir, and he confirmed that the wound is healing well and looking good," Marquez said.
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"He took off the cast that they had put on and now I have begun to do some physiotherapy work with some active and passive movements.
"My finger will be checked at Jerez after every session and the bandages will be changed.
"It's a pity about the injury, but I hope that it doesn't affect me too much and that I can get a great result in front of the fans."
Marquez's mishap added to Honda's troubled start to the season, with Dani Pedrosa missing races in America and Argentina after undergoing further surgery on his forearm.
Pedrosa, who has been replaced by test rider Hiroshi Aoyama, was ruled out of the Spanish round earlier today.
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