McGahee tore a ligament in the knee Nov. 18 and the Broncos placed him on recallable injured reserve. He is eligible to return to practice Tuesday and could play in the AFC title game if Denver makes it.
The 10th-year running back, who led the team with 731 yards rushing this season despite the injury, said he'd know more about how the knee responds if he's allowed to suit up for practice Tuesday. Coach John Fox said he would update McGahee's status after Tuesday's practice.
If the Broncos defeat Baltimore on Saturday, they'll play in the AFC championship game on Jan. 20.