Hazlewood, who has played 59 Tests for Australia so far, had missed the first two Tests in the series because of the injury he sustained in the third Test against South Africa in Sydney in January.
Any changes to the squad will be announced on Wednesday once the selectors and medical staff have deliberated, a team spokesman said.
Mitchell Starc and all-rounder Cameron Green also missed the first two matches as both recovered from broken fingers.
Australia are 2-0 down in the four-Test series after being thrashed by six wickets in the second match in Delhi on Sunday and by an innings and 132 runs in the opener in Nagpur.
Captain Pat Cummins will also be returning home due to a serious family illness but will return in time for the third Test. The third Test will be played at Holkar Stadium in Indore from March 1.
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