Chacin was released by the Rockies on Thursday.
Chacin (toe) was reinstated from the 15-day injured list Friday.
Chacin (toe) will participate in a simulated game Friday, Patrick Lyons of TheDNVR.com reports.
Chacin was placed on the 10-day injured list Tuesday, retroactive to July 24, with toe sesamoiditis, Danielle Allentuck of The Denver Gazette reports.
Chacin (2-0) picked up the win during Tuesday's 4-1 victory against the Rangers, allowing one walk with one strikeout in 2.2 scoreless innings in relief.
Chacin (1-0) struck out three in 1.2 perfect innings to earn the win over the Dodgers on Sunday.
Chacin signed a one-year contract with the Rockies on Saturday, Thomas Harding of MLB.com reports.
Chacin (3-1) picked up the win in Wednesday's 9-5 victory over the Rangers, allowing one hit and striking out one over two scoreless innings of relief.