The 21-year-old on Thursday re-signed for the Saddlers on loan from Wolves until the end of the season, coming after he enjoyed eight games for the club over November and December.
McCarey has been brought in after manager Dean Smith failed to extend the loan stay of Ian McLoughlin, who was between the posts for last weekend's 1-1 draw against Notts County. He will now challenge David Grof for the gloves.
Defender Ben Purkiss is hopeful of being fit after a hamstring strain ruled him out last weekend.
Richard Taundry continues to miss out with his ankle problem as Walsall aim to close the eight-point gap between themselves and the play-offs.