The Spanish defender has been sidelined for seven weeks after rupturing ankle ligaments in the 4-1 home win over QPR on February 9, and missed the Capital One Cup final triumph as a result.
But Flores has now returned to training and Laudrup is upbeat on his chances of playing a part against Spurs on Saturday.
The Dane said: "Chico is looking good. He is still feeling something when he does some movements, but that is completely normal for this type of injury.
"He has a possibility of being in the line-up and we will just need to see how he is on Friday."
Being able to field Flores alongside Ashley Williams in the heart of the back four would be a big boost for Laudrup, even though Garry Monk has deputised ably in his absence.