Peerman can begin practicing Wednesday and will not count against the active roster for 21 days. If the Bengals decide not to activate Peerman by the end of that practice window, he will return to injured reserve.
The decision to activate Peerman over Jackson is likely due to the loss of running back Giovani Bernard, who tore his ACL on Sunday.
Peerman, a former special-teams captain, is used mostly on that unit; his most recent regular-season carry was in 2014. The Bengals will likely give Rex Burkhead more offensive snaps now that they are down a running back.
Burkhead essentially slid into Peerman's spot after Peerman fractured his forearm in August. If Peerman is placed on the active roster, he could move into Burkhead's spot on special teams while Burkhead moves to a backup running back role.
Jackson, a cornerback, also was injured in the preseason and has yet to take an NFL snap.
Defensive tackle Brandon Thompson, currently on the physically unable to perform list, will also return to practice this week but will not count against the activate roster.