Kompany has sat out City's last three games, including the superb 2-0 midweek win at Roma as they booked a spot in the Champions League last 16, with a hamstring problem.
Pellegrini deemed it too great a risk to include the centre back in Italy but expects the Belgian to be ready for the match at bottom club Leicester.
"Vincent Kompany is in the squad list so I don't think he will have any problem to play tomorrow," Pellegrini told reporters.
The City boss said Spanish playmaker David Silva should also be available.
"We will see tomorrow, he didn’t feel any pain in the knee from the 30 minutes (in Rome) so I think he will be fit," the manager said.
City are three points behind table-toppers Chelsea after 15 games and face a favourable run of fixtures over the congested Christmas period with their next five matches against teams currently in the bottom seven.
Pellegrini is expecting to have good news on the future of goalkeeper Joe Hart in the coming days, with the 27-year-old set to sign a new deal along with midfielder James Milner.
"I think it is close. Joe wants to stay here and we want him to be our goalkeeper," he said.
"I hope Milner will sign also. I think he will continue here because he also wants to stay."
(Reporting by Toby Davis; editing by Ed Osmond)
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