The Colombian injured the anterior cruciate ligament in his left knee in January when playing for Monaco in the Coupe de France and looked set to miss this year's tournament in Brazil.
But since undergoing an operation, Falcao has maintained a positive outlook and, while he concedes that it is "very premature" to definitively talk about playing in the World Cup, he insists that no decision has yet been made.
"It would be a special case," the 28-year-old told Marca. "We are very optimistic about the response of the knee but today is very premature to say whether or not I'm going to be at the World Cup.
"There are lots of days from now until the final decision."
The former Atletico Madrid striker has been boosted by the speed of his recovery so far but admitted that the process has had its ups and downs.
"I feel very good, the response from the knee in the first phase of the recuperation has been positive," Falcao said.
"There hasn't been any problem and this has allowed me to work well. The healing has been quick.
"It's been a day to day process. Some days are good, others less good, with more monotonous work.
"It's helped me a lot to have gone through the same injury some years ago, when I was at River Plate. Now I'm more relaxed, confident and calm."
With Colombia to compete in their first World Cup since 1998 and Falcao set to be 32 when the 2018 tournament rolls around, there is a chance the ex-Porto marksman will never get another opportunity to play on football's biggest stage.
Despite that, Falcao remains adamant that his top priority is his long-term health.
"I'm doing everything possible to go, I would give it everything and it would be ideal, but the first thing is to be well, to recover well," he added.
"I cannot allow that my desire and that of my country to be in Brazil to affect the state of my knee."
