The Germany international suffered a hamstring tear against Fenerbahce in August, an injury that actually turned out to be much worse than first feared.
The report claims the Gunners forward suffered a grade three hamstring tear - the worst possible - which involves the "partial or full tear of the hamstring."
As a result, the 28-year-old has endured a lengthy rehabilitation process, with Arsenal staff hopeful he could make his return against Everton on December 8 at the Emirates Stadium.
A medical expert who conducted tests on Podolski reportedly described it as "one of the worst hamstring strains he'd ever seen" and "horrific."
The Germany star could have elected to undergo surgery but Arsenal opted to let the tear heal on its own. An operation on the hamstring could have ruled Podolski out for up to six months.
Germany national team doctor Dr Hans Muller-Wolfhart carried out an examination during the September international break, and determined the player faced a longer spell on the sidelines than Arsene Wenger's initial eight-to-ten week prognosis.
The Gunners had hoped he could return as early as mid-October but the severity of the tear has pushed that back, with the club now hopeful of a December return.
Podolski started running at Arsenal's London Colney training base last week as he looks to work towards returning to full practice later this month.