The veteran striker has been out of action since sustaining the injury at Sunderland on April 26 but should be able to begin pre-season training with the rest of the squad who haven’t been in international action on July 3.
Shearer told the Evening Chronicle: "Everything is fine at the moment and to tell the truth I haven't done any running or anything like that since the end of the season.
"I'm just back from a holiday in Barbados and my ankle stood up to being on the jet skis and banana boats with the kids, so I must be OK.
"When it happened I was told I could not have picked a better time to be injured because if it had occurred during the season I would have been out for six to eight weeks.
"But I will be back in training with the rest of the lads on July 3, although the physiotherapists want me in a week earlier as a precaution to make sure there are no problems."
The club’s medical staff must have been delighted to learn that their star patient has spent his summer break jet skiing!