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Ramsey, outstanding in the first half of the season, has not played since suffering a thigh injury in the Boxing Day win at West Ham. He was initially expected to be out for six weeks but suffered a setback in his rehabilitation.
The 23-year-old Welshman has scored 13 goals in 27 appearances for the Gunners, who lead Everton by just fourth points as they attempt to secure Champions League qualification for a 17th successive season.
"Aaron has been out for a long time and has just joined in [training] yesterday, but he will be available," manager Arsène Wenger confirmed at Friday's press conference.
"He is an all-round midfielder who can score goals and drives the team forward always, a real box-to-box player, so it is good to have him back.
"That is an area where we are short because we have many midfielders out - we have Wilshere out, Ozil out in this area, so of course it is good to have him back."
Wenger added: "He has worked very hard for a while in training now. What he lacks is competition.
"It is a bit like that (signing a new player), yes. Of course he is somebody coming back, he can help the team be very successful. It can be like that, yes."