Tanguay had two goals and two assists in Colorado's first four playoff games against the Dallas Stars, but the All-Star sat out the series-clinching victory and Thursday night's loss to the San Jose Sharks in the second-round opener.
He participated in a full practice Friday, and he expects no problems getting ready for Game 2.
"I felt great out there for a whole practice," Tanguay said. "It really hurts not being with the guys. It comes to a point where you don't have any more nails to bite, and you're just anxious to get out there. The odds are pretty good."
Tanguay was the NHL's ninth-leading scorer during the regular season, recording 79 points despite missing 13 games. He was the Avalanche's second-leading scorer behind captain Joe Sakic, who had 87.
Tanguay is a five-year veteran and a member of the Avalanche's Stanley Cup-winning team in 2001.
"He's skating very well, and he should be available [Saturday]," coach Tony Granato said.