Larsson suffered a broken foot in the club's season opener and has missed the last 22 games. He was expected to be sidelined for six-to-eight weeks.
The 27-year-old has played an important role on the Oilers' blue line since being acquired from the New Jersey Devils in June 2016. Last season, Larsson finished third among Oilers defensemen with 21:37 of ice time per game, chipping in three goals and 20 points in 82 contests.
Edmonton has started off strong in his absence, posting a 14-6-3 record to sit atop the Pacific Division entering Thursday's action.