Velazquez (thumb/hamstring) was activated off the 7-day injured list by Triple-A Columbus on Friday.
Velazquez was acquired by the Indians in early July and spent the last couple weeks playing in rehab games in the Arizona League. The 25-year-old had a .271/.329/.450 slash line with four home runs in 34 games prior to landing on the shelf, and figures to return to the majors for September's roster expansion.