He was involved in England's Under-21 European Championship campaign this summer, despite Wenger insisting that Walcott should not play for both that national team and the senior one.
Walcott's last senior match was in England's 6-0 victory over Andorra in June but he faced an Olympiakos academy side behind closed doors at Arsenal's training ground on Tuesday.
He is likely to be named in the Gunners squad for Sunday's Premier League game against Blackburn.
Capello is expected to name a full-strength squad for England's two qualifiers, with the Football Association reportedly concerned that fielding weakened teams would go against the code of ethics of football's governing body Fifa - therefore harming the bid to stage the 2018 World Cup.
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