"Arrow" is set to return for the second half of season 4 this month, and fans will finally find out what happens to Felicity after the events of the midseason finale.

The last time fans saw Felicity, she was in Oliver's (Stephen Amell) arms and bleeding profusely after she got hit by a bullet. Last month, the show released a promo teasing Felicity's fate, and right now, it is unclear whether she survived the attack or whether Oliver will mourn her death.

Meanwhile, there are speculations that what happened to Felicity could set up the beginning of her turning into Oracle. In the DC Comics, Barbara Gordon, a tech-savvy genius, becomes Oracle after the Joker shot her in the hip. The shot paralyzed her and made her wheelchair-bound for life. But as Oracle, she continued to help out the Justice League and members of the Bat family.

However, executive producer Wendy Mericle debunked this theory, telling TVLine that having Felicity turn into Oracle is "off the table."

"That's something we definitely talked about [doing] with Felicity in the beginning," Mericle said. "But yeah, it will not be Oracle, sadly. People will have to tune in to see what happens."

Last week, photos taken from the "Arrow" set were leaked online and the shots appear to confirm that Felicity is alive and well. In the pictures released on Twitter, Felicity is seen sitting on a wheelchair. Fans immediately took to the micro blogging site, with some saying that her being in a wheelchair could just be a temporary thing, since she did get shot in the midseason finale, while others insisted that the show has turned her into Oracle.

"Arrow" returns with the episode "Blood Debts," where Oliver will stop at nothing to find Damien Darhk in order to get revenge for what happened to Felicity.

The show returns on Wednesday, Jan. 20 at 8 p.m. on The CW.