The Spaniard, who found the net 18 times in the league last term, has been sidelined with an ankle injury since mid-December, but came off the bench as Garry Monk's men suffered a disappointing 2-1 home defeat to West Brom last weekend.
That result left Swansea without a win in seven matches in all competitions and head coach Monk's only victory in charge remains his opening-game triumph over rivals Cardiff City.
"We have to be careful throwing Michu straight back in," he said. "Every player will say 'I'm ready' but he's not had a lot of game time and it's a case of building him up.
"It's unfair to put too much pressure on him. We haven't got too much time but it's important we don't rush him either, we can't afford for him injured to be again."
Seamus Coleman netted a last-gasp winner to sink Swansea's foes Cardiff at Goodison Park last weekend, but speculation surrounding the Irishman's future will have come as an unwanted distraction for Roberto Martinez's Europe-chasing charges.
"I'll always have special affection and special memories and I want Swansea to do really really well," he said. "They'll be fine at the end of the season, the club's philosophy will give them great success.
"I've been very impressed with Garry Monk, it would be a big mistake to try and assess his time just by the results."
Phil Jagielka (hamstring) faces a late fitness test ahead, while Steven Pienaar will miss out with a knee problem. In addition, Martinez believes that Lacina Traore (hamstring) will play again before the end of the season.
