The 32-year-old has been sidelined since being forced off during Arsenal's 6-0 win against Ludogorets on October 19.
The 32-year-old has been sidelined since being forced off during the second half of Arsenal's 6-0 Champions League group win against Ludogorets on October 19.
Cazorla subsequently had an operation on a tendon in his right foot, with the Gunners estimating the time needed for rehabilitation at around three months.
However, reports have now suggested Cazorla could miss the rest of the season.
After Cazorla was first injured, Arsenal manager Arsene Wenger spoke of his importance to the team.
"The dressing room needs a balance between experience and youth-team players and you need to be guided as well by some experienced players as well when you go through difficult times," Wenger said.
"They help you always to keep your feet on the ground and keep focused."