The 22-year-old made an impressive cameo appearance in their 4-0 League Cup win against Luton Town on Tuesday, scoring his first goal of the season.
On the back of the performance, the Nigeria international has been named among the Foxes' substitutes against the Magpies.
Subs: Ward, Justin, Morgan, Choudhury, Albrighton, Gray, Iheanacho.#LeiNew— Leicester City (@LCFC) September 29, 2019
Iheanacho is yet to play a league game for Brendan Rodgers' team since the start of the 2019-20 season.
The 22-year-old's last Premier League appearance was in May as a second-half substitute in Leicester City's 1-0 loss to Manchester City.
While Iheanacho is starting on the bench, compatriot Wilfred Ndidi is making his sixth league start of the season at the King Power Stadium.