Caratini had been out since April 12 with a fractured left hamate, which he had surgery on to repair three days later. Caratini will start at first base Thursday evening as Anthony Rizzo remains out with back tightness.
In a corresponding move, the Cubs optioned catcher Taylor Davis to Triple-A Iowa.
Caratini is hitting .571 (8-of-14) with one homers, five RBIs and a 1.647 OPS in six games this season. He hit 8-of-30 in nine games in the minor leagues as part of a recent rehab assignment.