Wallace has missed the last six games because of a sprained left ankle, which he suffered in the team's regular-season opener against the Toronto Raptors on Nov. 3.
The Nets went 4-2 without Wallace, but their starting unit will certainly be much improved with the versatile 30-year-old defender back in the lineup.
Wallace scored 10 points, grabbed six rebounds and dished out four assists against Toronto prior to getting hurt. Veteran Keith Bogans had been starting in place of Wallace.
Bogans and rookie small forward Tornike Shengelia are inactive.
Mike Mazzeo is a regular contributor to ESPNNewYork.com.