Cole suffered a serious neck injury in early March.
Cole had been skating with the team since Carolina reached the Eastern Conference Finals against Buffalo. But following results of the latest CT scan, the Hurricanes announced Cole was finished for the season.
Cole was cleared to play by doctors on Friday.
Cole was hurt during the third period of a March 4 game when he was hit from behind by Pittsburgh's Brooks Orpik. Tests revealed the injury was a compression fracture in a vertebra.