Watkins and Austin were full participants in Thursday's practice and are expected to officially clear the concussion protocol by Friday.
Watkins broke out in the Rams' 41-39 victory over the San Francisco 49ers last Thursday night, with six catches for 106 yards and two touchdowns. But he banged his head while diving in for his second score in the eight-minute mark of the fourth quarter.
Austin, used mainly as a punt returner and gadget receiver this season, suffered concussion-like symptoms while getting around the edge and reaching for the pile-on for an initial touchdown that replay determined should be marked down at the 1-yard line.
Both players benefited from the extra time since their last game.
"Those guys are extremely important to our offense," McVay said of Watkins and Austin. "We've got a lot of playmakers on our offense that we feel good about, but those two especially. You look at what Sammy did last week, and then the influence that Tavon has on the game in a variety of different ways, that's a big boost to us."