The England winger underwent surgery to his right shoulder on November 20, after dislocating it during an international training session before the friendly against Germany in Berlin.
Arsène Wenger, the Arsenal manager, said then that he expected Walcott, who has a history of shoulder problems, to be out for "at least three months", although he dismissed the concern that the injury was career-threatening. Walcott has now sounded a further note of optimism.
"Everything is fine," he said. "I am expecting to be back mid-February." Arsenal play the first leg of their Champions League last-16 tie on February 24-25.