Alcaraz hasn't been spotted in Latics colours since the Capital One Cup victory at Nottingham Forest at the end of August thanks to a serious groin injury picked up on international duty.
"Antolin has been working really hard behind the scenes and is nearly there, although he won't be okay for the weekend," Latics boss Roberto Martinez told the Wigan Evening Post.
"But I wouldn't be surprised if he is very close to make the FA Cup game (at either Leicester or Huddersfield) the following week. He has been out for a long time but slowly he is adapting back to full training with the group.
"We're hoping there won't be a reaction, and he would be a massive boost for us to have him back."