The former Kilmarnock defender has recovered from the hamstring complaint which has kept him out for almost two months.
Paul Hanlon has shaken off his hip injury but is unlikely to feature against Caley, while fellow defender Alan Maybury is suspended after picking up his sixth booking of the season in the 4-1 defeat at Motherwell before the international break.
Fenlon said: "Tim has been back training 10 or 12 days and has an under-20 game under his belt.
"It is good news with Paul, he has been back this week training, he is back a little quicker than we thought.
"Saturday is probably a bit early for him but he has got a chance for next week."