The Pakistani girl, who arrived in Birmingham on Monday, had a bullet removed from her skull last week.
The Taliban said they targeted her for “promoting secularism”.
Hospital Medical Director Dr David Rosser said some UK colleagues who had been in Pakistan believed she had “a chance of making a good recovery”.
“Clearly it would be inappropriate on every level, not least for her, to put her through all of this if there was no hope of decent recovery,” he told reporters shortly before Malala’s arrival at Queen Elizabeth Hospital in Birmingham on Monday.
Doctors have already carried out a series of tests on the teenager and a hospital spokeswoman told the BBC they hoped to give an update on her condition on Tuesday morning.