The 37-year-old forward injured the joint in A-League action for Melbourne City on Friday, casting doubt on his fitness for the match in San Pedro Sula on Nov. 10.
"Tim Cahill underwent an X-ray on Friday night and an MRI scan on Saturday morning to determine the extent of an injury sustained to his right ankle," read a statement.
"While no fracture was identified, monitoring and rehabilitation will be required to manage Cahill back to full fitness.
"The Socceroos' medical and coaching staff will determine Cahill's eligibility for the upcoming 2018 FIFA World Cup Intercontinental Play-off (CONCACAF-Asian Zone) against Honduras.
"A further update regarding Cahill will be provided by FFA on Sunday."
Cahill scored his 49th and 50th international goals to ensure Australia defeated Syria in last month's Asian playoff, which set up the intercontinental tie for a place in next year's tournament in Russia.
Even if he fails to recover in time for the first leg, Australian football fans will be desperate for him to play some part in the second leg in Sydney on Nov. 15.
(Reporting by Nick Mulvenney; Editing by Sudipto Ganguly)
