Wright-Phillips looked bright and energetic during a late cameo appearance in Saturday's 3-0 win over West Bromwich Albion, and coach David Platt said: "He could be that player.
"What we had prior to January was a squad, when all fit, of 24 or 25 players and Shauny found himself out of it a few times.
"It did not work out for him in terms of moving away but he is a consummate pro. He has trained exceptionally well as he has done all season. He gives you a lot of pace and attacking ability.
"We are not stupid enough not to realise he might be important to us between now and the end of the season."