Lahm was injured in a training session on November 18 and has been gradually working his way back to full fitness.
Ahead of the second leg of Bayern's last 16 clash with Shakhtar, the Bundesliga champions revealed Lahm would be available to coach Pep Guardiola.
A tweet from Bayern read: "Great news: Philipp #Lahm is in #FCBayern's 18-man squad today for the first time in 16 weeks since fracturing his ankle!"
The first leg between Bayern and Shakhtar, which took place in Lviv, finished goalless.
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