Thirty year old Alcaraz last featured for the Latics in the Capital One Cup game with Nottingham Forest back in August before picking up a serious groin injury on international duty.
Now the defender is nearing full fitness and Latics boss roberto Martinez revealed to the Wigan Evening Post that he won't rush the player back.
Martinez said: “Antolin has been working really hard behind the scenes and is nearly there, although he won’t be okay for the weekend.
“But I wouldn’t be surprised if he is very close to make the FA Cup game (at either Leicester or Huddersfield) the following week. He has been out for a long time but slowly he is adapting back to full training with the group.
“We’re hoping there won’t be a reaction, and he would be a massive boost for us to have him back.”
With the Latics short at the back the return of Alcaraz cannot come too soon for supporters.