The striker, 32, lost consciousness after a heavy challenge in a game with Deportivo La Coruna on 2 March.
Torres returned to full training on Monday and boss Diego Simeone confirmed he is available.
Atletico won the last-16 first-leg tie with Bayer Leverkusen 4-2.
Torres scored in that game, which puts Atletico in a strong position to reach the last eight for a fourth successive year.
The former Liverpool forward was released from hospital only 24 hours after he was admitted having suffered no serious injuries.
Kevin Gameiro is a doubt for the game after missing Saturday’s 1-0 La Liga win at Granada with an abdominal injury.
Captain Gabi and left-back Filipe Luis are suspended for the game.