The 28-year-old winger, who has been rehabbing in earnest while recovering from offseason surgery on his left shoulder, is expected to be in the lineup for the team's second game of the season, coach Alain Vigneault confirmed to reporters Friday afternoon.
Callahan was cleared for contact last week and has been skating with the Rangers regularly during training camp. Vigneault has previously said that Callahan has been lobbying to play, but that the Rangers wanted to exercise caution with one of their most important offensive players.
Callahan said it was his "hope" to get back by Monday.
"It has to be 100 percent and, right now I feel good," he said after practice on Friday, according to Newsday.
The Rangers, who dropped their first game of the season 4-1 to Phoenix Thursday night, are already without another top-six forward in Carl Hagelin, who is recovering from the same surgery as Callahan.
Callahan finished with 16 goals and 31 points in 45 games for the Rangers last season.