Minardi will take part in Saturday's first qualifying session after its Australian owner Paul Stoddart secured a court injunction against the FIA's race stewards decision to exclude his team.
"We are in," Stoddart told Reuters. "We'll be running all day tomorrow and then we'll have to wait and see what happens."
Stoddart said the Victoria court had scheduled a second hearing at 14.15 local time to rule whether Minardi can participate in the race on Sunday.
Minardi was forced to miss free practice in Melbourne after Stoddart failed to get permission from all of the nine other teams to compete with 2004-spec cars.
After missing the sessions he vowed to take legal action.
He said: "We had a very fair hearing from the stewards. With a heavy heart they've decided against us. I compliment the stewards on their fairness.
"But it leaves us now with only two options, one of which is to seek injunctive relief against the stewards' decision, not against this event, and the other to try and modify the car overnight.
"We are going to seek the legal remedy. We think we have prepared a watertight case. What I can say is that under no circumstances will we seek to disrupt this event in any shape or form."
Minardi does have an aerodynamic kit that conforms with the 2005 regulations available at Melbourne this weekend, but it is untested. The team will attempt to ready the cars with the new bodywork this evening in case it loses its court battle.
The unseemly saga over Minardi’s participation in the Australian GP rumbled on even as first practice got underway at Melbourne’s Albert Park circuit.
Paul Stoddart now concedes that he is unlikely to be able to find a way out of the impasse and his team may have to pack up and go home.
The sticking point appears to be that Ferrari will not withdraw its opposition to Minardi taking part until the team obtains a prior stamp of approval from governing body the FIA – a move which Stoddart regards as nothing more than political gamesmanship.
Speaking to reporters, Stoddart said: “Jean Todt told me he will not be signing a piece of paper from me at all, but that he would do so if it came officially from [FIA race director] Charlie Whiting. We are just a victim of political games.”
Stoddart vowed to continue lobbying his fellow team bosses in a last-ditch effort to secure a reprieve, but admitted his chances were “bad, really bad”.
Compounding Stoddart’s problems is the fact that FIA president Max Mosley does not appear to be sympathetic to his case.
In a press release issued by the FIA on Friday morning, Mosley said: “Paul has known about the new bodywork regulations since 6 September 2004; in fact, his team voted for them that day in common with all the other teams.
“We understand that he has the latest bodywork in Melbourne even if he has not yet tested it fully. We also understand that at least three teams would object to him running outside the regulations (which it is also our job to enforce).
“If he decides not to run, we think it unlikely that the Melbourne organisers will seek compensation from him.”