Carlo Ancelotti's side rescued a 3-2 win at Estadi Ciutat de Valencia in October with stoppage-time goals from Alvaro Morata and Cristiano Ronaldo.
They will enter this weekend's game a point clear at the top of La Liga following last week's 2-2 draw with city rivals Atletico Madrid, sealed by another late Ronaldo goal.
The Blancos are currently the form team in La Liga after not tasting defeat in any competition since losing to Barcelona at Camp Nou in October, going 28 matches unbeaten since in all competitions.
Since their Santiago Bernabeu defeat to Atleti in September, Real have been irresistible at home in all competitions, winning every single one of their following 15 games on their own patch.
Levante are enjoying a surprisingly good campaign under well-regarded coach Caparros, who has reportedly emerged as a target for former side Sevilla should they opt against renewing Unai Emery's contract in the summer.
A run of six defeats in seven Liga matches looked to have put pay to their slim European hopes in early January, but they have since gone eight domestic games unbeaten and sit eighth, reigniting their chances.
The two sides go into this fixture on the back of a brief international break and Madrid's front men were in good form for the respective countries, with Karim Benzema, Cristiano Ronaldo and Gareth Bale all netting during the week.
While Ancelotti does not have significant injury problems to contend with, Pepe is a doubt due to illness, while Dani Carvajal and Marcelo are expected to be restored to the full-back berths.
Caparros will be without suspended trio Pape Diop, Victor Cassadeus and Simao Mate, while Christian Lell (stomach) and Issam El Adoua (foot) are doubts, despite both returning to training.