The Spain forward has not featured since his side's 1-0 Champions League win over Marseille on November 26.
But after a five game absence, Torres could take his place on the bench for the festive Barclays Premier League clash against Gary Megson's side.
The 24-year-old's return will be a major boost to the Anfield side who have picked up just six points from a possible 12 without the striker.
Assistant manager Sammy Lee remained coy on whether the former Atletico Madrid star would feature in the game against Bolton - but admitted Torres is close to making his comeback.
"As regards the Christmas period, I will say his rehab is coming on well.
"You have to try to take the positives from any negative situation. It wasn't nice to have him injured or missing but that's football.
"It's the nature of the game, and he has had a break and will be back fresh now.
"I think it speaks volumes for the squad that they have managed to get to the top without Fernando for long periods."
And Rafa Benitez's right-hand man expects Torres to play a major part in Liverpool's title tilt.
"When you have a world-class performer ready to come in, then of course it makes you better, and gives everyone a lift," he said.
"The class of Torres would obviously be missed by any team, and when he's available for us he'll be a massive addition.
"We don't prepare for failure, we believed we could be top, and we believe we can stay there. We're not surprised at the position we're in."