But that will hinge on his comeback this Friday night in the VFL with Box Hill.
A dislocated shoulder in the pre-season has sidelined Day since, and he only managed six AFL games last year because of a footy injury.
"It's pretty exciting for Will, for all of us. He'll be carefully managed, of course," coach Sam Mitchell said of Day's return.
"But he certainly won't be ready for AFL footy at this stage.
"When he gets back, stay back - that's the aim. So it could be as early as next week or a bit longer than that."
Given Day's latest injury was a shoulder, Mitchell said the star utility had been able to build a strong fitness base during his latest spell on the sidelines.
When Day is fit and firing, there is arguably no single player more crucial to Hawthorn's premiership aspirations.
Those hopes took a hit with the blockbuster loss to Fremantle in Perth and then last weekend's bad outing against Melbourne.
Forward Jack Gunston finished the Demons game in a moon boot, while Mabior Chol is on the verge of returning from a hamstring injury.
Conor Nash is set to resume from concussion in Thursday night' crucial Launceston match against Adelaide.
"We'll see how he (Chol) goes today. Mabior's probably likely, Jack is more 50-50 I'd say," Mitchell said before Tuesday morning training.
Mitchell said after the Melbourne loss that it was back to the drawing board, adding that the Dees outworked the Hawks.
He laughed when asked if the players had been told to bring mouthguards to training as a result.
"If it's a pattern of behaviour of your group, sometimes that might be something you head towards," Mitchell said.
"But we had a good, honest chat about what our group looks like and what it means to us.
"The thing about this group is you don't have to question them very often, about how hard they work ... that's pretty solid around Hawthorn."
Adelaide are the last team to bring down Hawthorn in their Launceston stronghold, beating them by three points in 2023.
The Crows are coming off a 68-point hiding of North Melbourne.
"You know their best footy is phenomenal. It's an interesting time to get them, when they put up 10 goals in a quarter against a side that's been going very well," Mitchell said.
"I'm glad we have the tight turnaround, because it (the Melbourne loss) was a hard one to stomach."
Later on Tuesday, Hawthorn announced Cam Nairn would play against Adelaide, making him their fourth AFL debutant this season.
The 18-year-old small forward from SANFL club Central District was the No.20 pick in last year's national draft.
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