The Gunners captain was an unused substitute in last week’s 5-0 win over Sheffield United but made his return as a substitute in Wednesday’s Carabao Cup exit to West Ham United.
Odegaard scored the opener when the Gunners won 2-0 at St James’ Park in May.
“We have tried to offload him a little bit because he had a little issue that he was grumbling with,” said Mikel Arteta at his pre-match press conference.
“He felt much better in the last few days, and we gave him a few minutes against West Ham which was good to see, and his contribution was really good. He will train today [Friday] and if he’s fine he will be ready.”
Arteta, however, will be without Gabriel Jesus, Thomas Partey and Emile Smith Rowe through injury.
Three points for Arsenal will see them move top of the Premier League table while Newcastle are aiming to stay within touching distance of the top four. Eddie Howe’s side can move four points behind their visitors with a win.
Here’s how Arsenal are predicted to line up on Tyneside:
1. GettyImages-1769257493.jpg
2. GK: David Raya
3. RB: Ben White
4. CB: William Saliba