Wootton was a surprise omission from the team that drew 2-2 at home with Burnley last Saturday.
Posh boss Darren Ferguson revealed this week that the on-loan Manchester United defender had suffered a hamstring injury in training and was back receiving treatment at the Barclays Premier League leaders.
Wootton is expected to be out for around six weeks so Gaby Zakuani could continue in the side.
Ferguson has options as regards partners alongside Zakuani at the heart of the defence, with Nathaniel Knight-Percival, Shaun Brisley, Michael Bostwick and Craig Alcock all capable of playing in the centre.
Ahead of the visit of the second-placed Foxes, Ferguson said: "Leicester are a very strong team and in my opinion they have the best squad in the division.
"They are in very good form and will feel they have a chance of catching Cardiff City at the top of the league.
"They have some good wingers and I watched them last week myself against Wolverhampton Wanderers.
"I am looking forward to the game, though, we are determined to get the right result ahead of the break next week."
Ferguson added that he is preparing for the game with George Boyd in his side. The long-serving midfielder, whose move to Nottingham Forest collapsed last week, could leave the club when the loan window opens on Friday.