The Blues' right-back has not featured since a home win over Hull City last March after suffering a horrific double leg break while on international duty with Republic of Ireland the following week.
But having featured for the club's under-23s earlier this month, the 29-year-old makes his first start in 10 months against the Foxes, replacing Jonjoe Kenny.
While the home side are buoyed by the return of such an influential player, Leicester will have to do without talismanic forward Mahrez and also face the task of having to reintegrate the Algerian back into the first-team squad after a transfer request for the second time this season.
Following a failed attempt to force a summer switch, Mahrez has been unsettled by Manchester City's recent interest. But the league leaders have pulled out of any deal due to the extortionate return that Leicester are demanding for their former PFA Player of the Year.
And Claude Puel will be without Mahrez this evening after he missed training on Tuesday and failed to turned up with his travelling team-mates for the trip to Merseyside earlier today.
Sam Allardyce's Everton make seven changes from their draw at home to West Bromwich Albion earlier this month as they look to end a seven-game run without a win and claim a first victory of 2018.
Cenk Tosun drops to the bench having had just one shot on target in his first two games, with Oumar Niasse leading the line in his place after coming off the bench to equalise against the Baggies.
Theo Walcott makes a second straight start after joining from Arsenal while Tom Davies replaces Morgan Schneiderlin in the centre. With James McCarthy out injured after a leg break, Idrissa Gueye starts alongside Davies.
Elsewhere, Phil Jagielka and Michael Keane start in central defence - with Wayne Rooney also back in.
Leicester won at Peterborough in the FA Cup last weekend but January addition Fousseni Diabaté drops to the bench despite netting a brace on his debut against the League One outfit. Kelechi Iheanacho, who also scored twice, is in reserve.
Puel makes a handful of changes from that team to return to a more familiar eleven with the likes of Kasper Schmeichel, Harry Maguire, Wilfried Ndidi and Jamie Vardy all among those returning.
Marc Albrighton makes his 200th Premier League appearance out wide.
The visitors are without captain Wes Morgan, who misses out with a hamstring injury that has sidelined him since New Year's Day.
Leicester are unbeaten in six games since the New Year and have conceded just one goal in that time. They could begin the calendar year with four successive clean sheets for the first time since 1980.
In Mahrez's absence, they will look to front-man Vardy to spearhead their attempts to claim a league double over Everton this term - with the England international having netted three goals in his last three league games against the Toffees.
Confirmed line-ups in full
Everton starting XI: Pickford; Coleman, Jagielka, Keane, Martina; Davies, Gueye; Walcott, Rooney, Sigurdsson; Niasse.
Leicester City starting XI: Schmeichel; Amartey, Dragović, Maguire, Chilwell; Albrighton, Ndidi, James, Gray; Okazaki, Vardy.
Everton bench: Robles; Williams, Kenney, Schneiderlin, Bolasie, Calvert-Lewin, Tosun.
Leicester City bench: Hamer; Benalouane, Fuchs, Silva, Iborra, Diabaté, Iheanacho.