The Liverpool skipper is unlikely to play the full 90 minutes of the Newcastle game at Anfield on Friday night.
"Steven looks unbelievably fit at the moment," said Dalglish. "We have to manage the number of minutes he gets on the pitch and we will build it up from there.
"We will just take it as diligently as we always do. We won't go stupidly throwing him in if he's not ready to last.
"We won't take a chance. We would rather have him until the end of the season than just for one game. He has done fantastic to get back to where he is."