Cabanas, 29, has a bullet lodged in his brain after being shot after a scuffle in a Mexico City nightclub. The club America forward can still only walk a few steps at a time and his speech is limited.
"After today's evaluation, the doctor determined that Cabanas is in condition to leave the hospital to begin the next steps of his recuperation," Club America said in a statement.
Doctors say that having a bullet in his brain would not necessarily impede Cabanas from returning to football, but Dr. Ernesto Martinez, who is treating him, says it is too early to predict how fully he will recover.
Cabanas left intensive care last month, came off his drip and gained strength, but remains fragile and will begin rehabilitation therapy under close medical supervision at the centre in an upscale suburb of Mexico City.
Police are still looking for a suspect in the shooting, which some reports say occurred during an argument in a nightclub restroom in the early hours of January 25 over America's results and Cabanas's performances.
Cabanas was a key player in Paraguay's successful qualification for this year's World Cup in South Africa.
In the World Cup starting on June 11, Paraguay face world champions Italy, Slovakia and New Zealand in Group F.
