Partey has been out of action since December 6 when he was forced off in the north London derby defeat to Tottenham.
Arsenal announced today: "Thomas is now back in full training with the squad after recovering from an injury to his left thigh.
"Thomas will continue to work hard to establish match fitness after being out of action for a month. He will be assessed regarding his availability ahead of Saturday's match."
They begin their defence of the FA Cup against Newcastle having won the competition for a record 14th time last season, beating Chelsea in the final on August 1.