The striker picked up a slight hamstring injury on reserve duty at Nottingham Forest 10 days ago but has recovered and acting boss David Pleat reported that he looked impressive in training today.
Speaking at his pre-Newcastle press conference at Spurs Lodge, David revealed: "Fredi is in the squad.
"He wasn't ready for Middlesbrough but trained this morning and trained well. That will give us a little problem but a nice problem."
David also said that Christian Ziege will be in the squad but couldn't confirm whether or not Jamie Redknapp would make it. Jamie has now completed two full reserve games on his comeback from knee surgery.
David added: "We're training on Saturday so we haven't finalised the squad yet. Jamie might be involved but I don't think he will start the game."
Goalkeeper Rob Burch is expected to be out for a while with an ankle injury so Lars Hirschfeld he been recalled from his loan spell at Gillingham.That only leaves Simon Davies (shin) on the sidelines.
Fredi Kanoute is back in the squad for Sunday's Premiership encounter against Newcastle United at the Lane.