The centre-half was one of three Liverpool players to come away hurt from Tuesday's Capital One Cup victory over Notts County.
Joe Allen and Aly Cissokho were the others, and Brendan Rodgers' initial assessment was that all three might have suffered significant injuries.
But speaking ahead of Sunday's game against Manchester United, Rodgers revealed only new signing Cissokho has a major problem.
He said: "Kolo Toure's injury is nowhere near as bad as we first thought, and we'll just assess that over the next 24-48 hours.
"I think we were all thinking he might be out for longer, but he has made an excellent recovery and the diganosis isn't anywhere near as bad as we first thought.
"We'll see how he is for this weekend, but if it's not this weekend we'd think after the international break he won't be too far away.
"Joe? Likewise. It was only a grade one hamstring strain, so he may be doubtful for the weekend but after the international break he'll be fine.
"Young Aly Cissokho will be slightly different - he could be out for four to six weeks, which is a blow because he came in and trained really well last week. He's on crutches at the moment and we'll look at that over the coming weeks."
Cissokho, brought in from Valencia on a season-long loan, was the fifth major arrival of the summer at Anfield and injured his ankle early in the Notts County game.
Rodgers has been linked with countless other players and is still hoping to add to his squad before Monday's transfer deadline, but the manager stonewalled when the names of Victor Moses, Shay Given, Tiago Ilori and Mamadou Sakho were put to him by the assembled press.