Juan Manuel Correa will undergo surgery on Sunday in an effort to save his right foot following the "severe" injuries he sustained in the Formula Two crash that killed Anthoine Hubert at Spa.
Correa suffered broken legs and spinal damage in the incident during the Belgian Grand Prix weekend and underwent an initial operation before being transferred to an intensive care unit in the United Kingdom.
The 20-year-old Ecuadorian also suffered acute respiratory failure and was described as being in a "critical but stable" condition on September 7, a week after the crash, with his parents speaking of taking strength from his "tremendous fighting will".
A new update on Correa's health underlined the devastating injuries he sustained, detailing how he had turned down an amputation involving his right foot and explaining that surgeons "will save what can be saved".
The statement, released on Correa's social media pages, said: "Earlier this week, Juan Manuel was transferred to a new hospital in London, England that specialises in orthopedic surgeries as the focus shifts from his lungs to his lower body extremities.
"Juan Manuel is now fully conscious, and his lungs have recovered much faster than anticipated. His overall physical improvement and willpower has doctors impressed. The main objective this week has been to get Juan Manuel in the best condition possible for his surgery on Sunday that will be 10+ hours in duration.
"Sunday's surgery will be crucial in determining Juan Manuel's future. Doctors will have, for the first time since the accident, complete access to the wounds on his lower right leg.
"They will be able to determine the actual level of damage to his tibia, ankle, and foot.
"During surgery, they will save what can be saved and remove what needs to be removed in order to rebuild his right lower leg to the best possible condition. The surgeons are the top in their field and are cautiously optimistic given the fast-paced recovery that Juan Manuel has had in the previous week.
"The injuries that Juan Manuel sustained are severe, and the surgery procedure is very complex. Doctors gave Juan Manuel the option of right foot reconstructive amputation. He has chosen NOT to have the amputation and to proceed with the surgery, understanding all the challenges involved."
French driver Hubert died at the age of 22 after the August 31 incident in which he and Correa, who drives for the Sauber Junior Team, were involved.
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