The German was ruled out of Sunday's race in Malaysia after falling at Turn 1 and snagging his ankle in a fold of artificial grass on the outside of the corner.
He had immediate and successful surgery on Saturday in Kuala Lumpur, and has now been passed fit to start the weekend in Australia - although he will need to also pass secondary checks if he is to compete beyond Friday.
"I am happy to be declared fit from the doctor side but for me it's important to try the bike and see what's going on," Bradl said.
"I still do not know if it's painful or not.
"Secondly we will see how fast I can ride and, if I pass the second medical check tomorrow after the first practice, I am pretty sure that I won't be capable to fight for the top five on Sunday.
"We will try to find the right balance to get an acceptable rhythm; we are lucky because this circuit has not so many right corners and this is positive but the first right corner is more than 200km/h so it won't be easy anyway.
"I want to express my sincere thanks to the guys from the Clinica Mobile because they helped me a lot in the last days".
Bradl, 23, remains in contention for top satellite honours in this year's championship despite missing Sepang.
He currently trails Tech 3's Cal Crutchlow by 31 points, with Gresini's Alvaro Bautista now also ahead, albeit by just one point.