Valentino Rossi WILL race at the Italian Grand Prix at Mugello – his home race
Rossi was out motocross riding on Thursday and crashed, suffering trauma to his thorax and abdomen and spending the night in hopsital in Rimini.
The 38-year-old was sent home the next day to continue his recovery with pain said to be subsiding.
The injuries had left his participation in the Italian Grand Prix at Mugello in doubt, an absence that would have left a large number of fans disappointed and organisers worried about ticket sales.
However, depsite being in what he described as "severe" pain after the accident, Rossi's condition has improved sufficiently for doctors to declare him fit to participate at Mugello, starting with Friday's practice sessions.
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A statement from Rossi's team read: "Movistar Yamaha MotoGP's Valentino Rossi is declared fit to participate in this weekend's Gran Premio d'Italia Oakley.
"Earlier this afternoon the nine-time world champion underwent a routine medical check-up at the Autodromo del Mugello.
"VR46 fans from all over the world can breathe a sigh of relief, knowing that FIM medical director, Dr Giancarlo Di Filippo, the chief medical officer of the Mugello Circuit, Dr Remo Barbagli, and the MotoGP medical director, Dr Angel Charte, have found Rossi to be in a suitable condition to take part in his home Grand Prix, starting with tomorrow's free practice sessions."
Valentino Rossi is one of MotoGP's biggest draws
The 38-year-old currently lies third in the rider standings, 23 points behind his Spanish Yamaha team-mate and overall leader Maverick Vinales.
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And Rossi knows the track at Mugello better than perhaps any other rider, having won their seven times in a row between 2002 and 2008.