Halfpenny has been out since suffering concussion while playing for Wales against Australia in Cardiff last November.
The British and Irish Lions full-back reported for training with the national team this week and is now set to feature in Pro14 action this weekend.
Halfpenny's Scarlets team-mates Rhys Patchell, who has been struggling with a hamstring injury, and Steff Evans have also been allowed to return to the region ahead of Saturday's game against Benetton Treviso.
Seb Davies, Josh Turnbull and Jarrod Evans will be released on Thursday, allowing the trio to play for Cardiff Blues in its home fixture with Glasgow Warriors.
Ospreys centre Scott Williams has been ruled out of the rest of this year's Six Nations campaign due to a back injury which kept him out of the wins over France and Italy.
Wales faces a potentially decisive showdown with England at the Principality Stadium on 24 February (AEDT).