Hawkins, 34, had foot surgery in October and did not feature in the pre-season matches but the Cats are yet to rule him out of next Friday's blockbuster at the MCG.
The key forward - who plays a crucial role in Geelong's attacking structure - booted 67 goals last year and formed an ominous combination with fellow gun Jeremy Cameron (65 goals).
"Tom is completing most of main training and moving really well and freely ... that'll be something our coaching team, and Scotty (coach Chris Scott) and match committee will need to sit down and work through," football boss Simon Lloyd told the club's website.
"But as we've said all along for all of our players, we'll always have the longer-term picture and the best interests of the player (front of mind)."
Menegola, one of the emergencies for last year's grand final, will be out of action for the "medium term".
"Sam, post the Hawthorn scratch match, where he obviously played well, pulled up a little bit sore ... and on further investigation we saw a specialist and we made the decision for Sam to have surgical intervention on his knee," Lloyd said.
"That will be a medium-term prospect but the great news for Sam is that this time next week he'll start his cross training and he'll be on the bike and things will start to move pretty quick."
Defender Jack Henry remains sidelined after foot surgery while fellow backman Jake Kolodjashnij is in concussion protocols and will be monitored.
