The game will be Wolves' first competitive outing under former Benfica manager Bruno Lage, who replaced Nuno Espirito Santo in June after the new Tottenham Hotspur manager left Molineux following the final game of last season.
The Foxes will look to improve on last season's fifth-place finish this campaign, while Wolves finished an unremarkable 13th in 2020-21.
Both sides are struggling with fitness issues in their backline, with Wesley Fofana's pre-season injury being confirmed as a fractured fibula that should keep him out for some time.
The facial injury suffered by Timothy Castagne in Belgium's opening game of Euro 2020 is expected to keep him out, while new signings Ryan Bertrand, Patson Daka and Boubakary Soumare could all feature.
For the visitors, pre-season injuries to Willy Boly and new signing Yerson Mosquera should see a start for Max Kilman in the back three.
Marcal is expected to edge out Rayan Ait-Nouri to start at left wing-back, while new signings Francisco Trincao and Jose Sa will start. Raul Jimenez will also return to competitive action for the first time since fracturing his skull eight-and-a-half months ago.
Leicester (4-2-3-1): Schmeichel; Pereira, Amartey, Soyuncu, Bertrand; Ndidi, Tielemans; Perez, Maddison, Barnes; Vardy.
Wolves (3-4-3): Sa; Saiss, Coady, Kilman; Semedo, Neves, Moutinho, Marcal; Trincao, Jimenez, Traore.
Ones to watch
This season could prove pivotal for James Maddison, with the Foxes midfielder failing to progress at the same rate as his contemporaries, such as Jack Grealish, over the last couple of years.
Harvey Barnes will be looking to build on an excellent breakthrough campaign, which had it not been cruelly curtailed through injury in February, would have surely seen the Leicester winger in England's Euro 2020 squad.
All eyes will be on Raul Jimenez ahead of his first Premier League game since November, with the Mexican's pre-season performances giving hope that he can provide the goal threat Wolves badly missed in his absence.
Whether Lage's attacking style can be implemented with the same success it was at Benfica will depend on Jimenez and Adama Traore's previously lethal partnership. The Spanish international was unlucky not to provide more goals and assists for Wolves last season, but his stats will now be expected to rise with the return of Wanderers' number nine.
Wolves have begun their away campaign in LE2 in three of the last four campaigns, losing 2-0 in their first Premier League away game in 2018-19 before a VAR-affected opener in 2019-20 saw the sides play out a 0-0 draw.
In the four games played between the sides since 2019, Vardy's penalty is the only goal either side have scored.
How to watch
Kick off is at 3pm on Saturday, but with the end of COVID regulations seeing the return of full stadia in England, the game will not be broadcast live in the UK.