The Juventus superstar, 33, has been out of action for his country amid shock rape allegations.
According to Calcio Mercato, the 33-year-old will be called up for the Nations League clash on November 17.
Portugal's all-time leading goalscorer took some time away from international duty after the World Cup.
He was recently left out of the squad for the 3-2 win over Poland and the following 3-1 friendly win over Scotland.
Fernando Santos' side have won both of their games in the group, but a defeat to Italy would see them lose the top spot.
Last month he was spotted lapping up the sunshine on a yacht as his international team-mates trained without him.
But he is now understood to be ready to make his comeback after an impressive run of form for his club.
Despite his slow start, he is now Juventus' top scorer with five goals in nine Serie A games.
The 33-year-old has also been fighting an off-field battle following claims that he sexually attacked a former model at a hotel Las Vegas.
Some of his corporate sponsors, including Nike and EA Sports, have expressed their concerns about the allegation.
But the Portuguese superstar has the full support of Juventus president Andrea Agnelli and he has claimed that his "conscience is clear".
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