Asensio was expected to miss the entirety of the 2019/2020 season and EURO 2020 after suffering an anterior cruciate ligament damage to the left knee during a pre-season game against Arsenal last July.
The 24-year-old has however benefited from the coronavirus pandemic disrupting the footballing calendar and grinding the season to a halt.
Asensio has now fully recovered from the injury and has been working his way towards full fitness ahead of La Liga’s resumption next month.
"I feel very good," he told Realmadrid TV. "The first week was different when I returned to training, being with my team-mates.
"My adaptation has been good. The knee is responding well and the truth is that I am physically very well.
"The wait has been very long. I have worked a lot and, above all, I have had a lot of patience, because seeing your colleagues train every day while being in the physiotherapy room was something that hurt me a lot.
"I am already with my colleagues in the field and that is the important thing. The wait was worth it."
Asensio, who scored in the 4-1 win over Juventus in the 2017 Champions League final, appeared in 44 games in all competitions for Real Madrid last season, scoring six goals.
Real Madrid are two points behind leaders Barcelona in the race for the La Liga title while Los Blancos will also have to recover from 2-1 down if they are to eliminate Manchester City from the Champions League in the round of 16 stage.
