The full-back joined Chelsea from Atalanta over the summer and impressed during pre-season, only to suffer the injury in training in August.
Palestra has now been pictured back at Cobham, training alongside Pep Chavarria, Danny Welbeck, Wesley Fofana, Jordan Henderson, Levi Colwill and Malo Gusto in a session led by Xabi Alonso.
The return is a welcome boost for the Italian, who has been frustrated by his inability to make his first appearance for Chelsea.
“He's quite frustrated after a very good pre-season not to be able to play and to make his debut in the Premier League,” Alonso said earlier this month.
Palestra's return comes as Chelsea continue to deal with a number of injuries. Moises Caicedo, Cole Palmer, Joao Pedro and Reece James were not pictured in the latest training session.
Caicedo has made just 14 minutes of competitive football this season after suffering a calf injury in the summer. He returned against Brighton but was forced off again after less than 15 minutes.
Palmer withdrew from England duty with a minor muscular problem, while Joao Pedro and James are recovering from knee and hamstring injuries respectively.
The extent of the latter pair's absences remains unclear, although Palmer's problem is understood to be minor.
Jamie Gittens is another player currently sidelined after suffering an ankle injury while playing for England Under-21s against Kazakhstan.
Palestra, meanwhile, can now concentrate on building his fitness and pushing towards the Chelsea debut that was delayed by his injury.