The shooting, which was scheduled to take place at London's legendary Pinewood Studios, was suspended till further notice.
According to The Sun, the actor will be able to resume production while being careful not to aggravate the injury.
Citing an unnamed source, the publication stated that Craig's injury was not as bad as initially feared.
"Things were deemed to be a disaster at first. But the injury is not as severe as believed, and he will be able to film while not over-exerting his ankle. He will be back on set within the week," the source told The Sun.
The new film in the Bond franchise has had a tumultuous journey.
It was previously set to be directed by Danny Boyle with a release date of November 8, 2019.
After Boyle dropped out of the project over "creative differences", along with frequent collaborator, screenwriter John Hodge, the film's release date was moved to February 14, 2020.
Cary Joji Fukunaga is now attached as director, with Scott Z Burns hired by MGM studio to pen a new script. Neal Purvis and Robert Wade have already drafted a version of the script but it is being reported that the studio is unhappy with their story.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)