Rice had hip surgery in late August and returned to practice two weeks ago. The team announced the move on Saturday.
Vikings coach Brad Childress said recently if Rice was not moved from the physically unable to perform list to the active roster for Sunday's game against Green Bay, he likely would be placed on injured reserve and miss the rest of the season.
On Friday, Rice told ESPN's Ed Werder he would play this week.
"I'm going to play," Rice said Friday after what he considered a strong week of practice. "I don't think I can go the whole game but I'm going to play as much as I can."
Rice is in the last season of a four-year contract he received after being drafted in the second round by the Vikings in 2007. He broke out last year with the arrival of quarterback Brett Favre and racked up 1,312 yards receiving with eight touchdown catches.
"He wants to be able to play like he did last year. I do too," Favre said last week, adding: "I wanted him eight, nine weeks ago. He can't get here soon enough. I do want him, when he steps on for good, to feel confident that he's not going to look back."
Rice bristled this week at the suggestion he's been taking his time to return out of concern for his next contract.
"This is all about being healthy," he said.
Information from The Associated Press was used in this report.