Liverpool captain Steven Gerrard will make his long-awaited return from a hamstring injury.
The 30-year-old midfielder's comeback after more than six weeks on the sidelines has been delayed twice after their last two matches against Fulham and Blackpool were postponed because of the cold weather.
Centre-back Daniel Agger has also finally recovered from a complicated calf problem which had sidelined him since September 25.
Wolves manager Mick McCarthy will again be without a number of key players for the game at Anfield.
McCarthy will have to again rely on the squad available for Sunday's 2-1 home reversal by Wigan - a result which sent them to the bottom of the table.
Skipper Karl Henry (knee), Jody Craddock (hip), Kevin Doyle (thigh), Michael Mancienne (knee) and Steve Mouyokolo (back) are still ruled out.
The only consolation for McCarthy is that winger Matt Jarvis and striker Steven Fletcher will be in contention to start.
They were only fit enough to be on the substitutes' bench against the Latics because of a knee injury and illness respectively.
Liverpool (from): Reina, Johnson, Skrtel, Kyrgiakos, Konchesky, Kuyt, Meireles, Lucas, Rodriguez, Gerrard, Torres, Jones, Kelly, Aurelio, Poulsen, Cole, Ngog, Babel, Agger, Shelvey.
Wolves (from): Hennessey, Zubar, Stearman, Berra, Elokobi, Foley, Edwards, Milijas, Hunt, Ward, Ebanks-Blake, Hahnemann, Fletcher, Jarvis, Jones, Bent, Mujangi Bia, Doherty.