The 22-year-old made the move to Selhurst Park this summer from QPR for £16million, potentially rising to around £20million.
Eze suffered a groin injury during the pre-season friendly against Charlton at the end of August, meaning he was forced to pull out of the England Under-21s squad for their clashes against Kosovo and Austria over the last week.
However, the young attacker has returned to training this week with Crystal Palace facing a tough challenge to open their Premier League season.
Whether he is available for the starting XI will likely be answered by Roy Hodgson on Friday afternoon during his pre-match press conference, but to have Eze back in training will certainly be a big boost.
Southampton were the third-best Premier League side following the restart in June, with a win against Manchester City added to their seven-game unbeaten streak.
Palace also look like concluding a deal for Chelsea striker Michy Batshuayi to join on loan for the season either on Thursday or Friday.
To have a chance of being involved against the Saints on Saturday afternoon, Batshuayi will need to be registered with the Premier League by 12pm on Friday.