Vardy has been absent since December 28 with a hamstring injury but is set to return to the squad along with Ricardo Pereira, who sat out the Europa Conference League win over Randers.
Foxes boss Brendan Rodgers admits the 35-year-old striker's absence has hit them hard, meaning his return comes as a timely boost.
"To have that level of quality is important," Rodgers said on Monday.
"He's a top player at the level and he has that mentality. To have him back and be able to feature, it will be a huge boost for us."
Leicester now sit just six points above the relegation zone, albeit with a game-in-hand over Tuesday's opponents Burnley, who are down in 18th.
When asked about the threat of relegation, Rodgers said: "Respectfully, we try to look forward.
"We've played three to four games less than other teams. We have to win games to look up the table. That's our only notion."