Meanwhile, Wolves play host to the Foxes with the opportunity to move into sixth position, despite a run of just one top-flight win in half-a-dozen matches.
Brendan Rodgers would have expected to return after the winter break with Leicester cut adrift of second-placed Manchester City, but the postponement of their fixture with West Ham United at the weekend has provided the Foxes with a chance to apply some pressure to Pep Guardiola's side.
While the aim is to guarantee a top-four spot as soon as possible, Rodgers will want to remain in close proximity with City, viewing it as a sign that his developing squad are not settling for being among the top clubs in the division.
With Leicester having had the chance to get over the disappointment of missing out on the EFL Cup final, they will now be fully focused on the top flight with a home clash with City following the visit to Wolves.
Rodgers is aware that negative results in each of those fixtures would lead to pressure from the chasing pack, although this Leicester side have shown over the past few months that they are capable of finding an extra gear.
Having kept just one clean sheet in their last 13 outings against top-tier opposition, Rodgers will hope that the extra time on the training ground will help improve that side of their game, one which separated them from many of their rivals during the opening three months of the season.
After a run of one success from eight games in all competitions, Wolves boss Nuno Espirito Santo also finds himself hoping that the brief respite from an exhausting schedule can prove to be the difference over the next three months.
Despite Wolves having been provided with a testing fixture list since the Christmas period, Nuno will not be satisfied with his team's results, upping the stakes against opponents who he will feel are on a similar level to his own side.
As it stands, one victory could prove crucial in the race for European qualification next season, while this meeting with the East Midlands outfit represents Wolves' last showdown with the top three for the season.
That factor should be taken into account when assessing why Wolves have recently dropped down to ninth place in the standings, although that will never be an excuse used by Nuno given the quality at his disposal.
Over normal time, Wolves are unbeaten in their last four home matches against Leicester, something which they will want to maintain at the start of a pivotal few weeks in their season.
Wolverhampton Wanderers Premier League form: LLDWLD
Wolverhampton Wanderers form (all competitions): DDLWLD
Leicester City Premier League form: WWLLWD
Leicester City form (all competitions): LLWWLD
Having left Wolves for Leicester on loan during the January window, Ryan Bennett is ineligible to face his parent club on Friday night.
As for Wolves, Nuno is hopeful that Adama Traore will have fully recovered from a knock and a shoulder injury sustained at Manchester United on February 1.
Providing that he is passed fit, Nuno is likely to name the same starting lineup, leaving Daniel Podence to settle for a place on the substitutes' bench.
Wolverhampton Wanderers possible starting lineup:
Patricio; Saiss, Coady, Boly; Doherty, Neves, Moutinho, Jonny; Traore, Jimenez, Jota
Leicester City possible starting lineup:
Schmeichel; Pereira, Evans, Soyuncu, Chilwell; Ndidi, Praet, Tielemans; Perez, Maddison, Vardy
We say: Wolverhampton Wanderers 1-1 Leicester City
With both clubs having enjoyed a much-deserved rest, we are expecting a hard-fought encounter at Molineux. While Leicester are the marginal favourites, Wolves have the quality to earn a share of the spoils.