Holden, 26, has been absent since September with a knee injury, and Donovan believes his loss has affected Wanderers.
He said: "Stuart Holden has been hurt for a while and he won't be playing but it will be nice bragging rights if we can beat Bolton at Goodison and I can play a part in it. I will be excited to see him but more so to play my first game.
"There's no question they are missing him. I'd be curious to see what there record is when he plays versus when he doesn't.
"Obviously they have struggled this year and I think they miss him a lot."