The Cubs activated Palencia (elbow) from the 60-day injured list Friday, Taylor McGregor of Marquee Sports Network reports.
Palencia has been officially cleared to return from a nearly two-month absence due to a right elbow flexor strain, and he'll be available out of the bullpen for Friday's game against the Mariners. Palencia was the Cubs' closer prior to his injury, but he may be restricted to high-leverage situations in his return given how well Jacob Webb has pitched in save opportunities. In corresponding moves, Owen Miller was designated for assignment and Javier Assad was optioned to Triple-A Iowa.