The 41-year-old US Alpine ski great told a news conference she had ruptured her anterior cruciate ligament when she crashed in a women's World Cup downhill in Crans-Montana, Switzerland, last Friday.
"I also have bone bruising, which is a common injury on the entire ACL, plus meniscal damage, which we're not sure if that was pre-existing or from a crash," she explained.
"But we have been doing extensive therapy and consulting with doctors, been in the gym, and today I went skiing. And considering how my knee feels, it feels stable, I feel strong."
The first official training session for the downhill starts on Thursday on Cortina d'Ampezzo's Olimpia delle Tofane piste.
Until Crans-Montana, a race that was cancelled after her crash due to the weather conditions, Vonn had stood on every downhill podium in a standout season following her 2024 comeback.
Winner of two races, with one second place and two thirds, the age and injury-defying American had made an Olympic comeback in Cortina - the favourite Italian resort where she had excelled in the past -- her main target.
"My knee is not swollen, and with the help of a knee brace, I am confident that I can compete on Sunday," continued Vonn.
"This is not, obviously, what I had hoped for. I've been working really hard to come into these Games in a much different position.
"I know what my chances were before the crash, and I know my chances aren't the same as it stands today, but I know there's still a chance. And as long as there's a chance, I will try. So, that's where I am."