Davis has been sidelined since suffering a right calf strain Feb. 14.
Head coach Frank Vogel plans to limit the 6-foot-10 power forward to 15 minutes of playing time in his return, according to USA Today's Mark Medina.
An eight-time All-Star and four-time All-Defensive Team selection, Davis averaged 22.5 points, 8.4 rebounds, three assists, 1.8 blocks, and 1.3 steals per game prior to the injury.
The Lakers have gone 14-16 without him, a stretch that's partly overlapped with the absence of LeBron James, who's recovering from a high right ankle sprain.
With their two tentpole players sidelined, the Lakers have slipped to 35-23 (.603), good for fifth in the competitive Western Conference. Ahead of Wednesday's slate of games, the reigning NBA champions are 2 1/2 games behind the fourth-seeded Denver Nuggets and 2 1/2 games ahead of the sixth-seeded Portland Trail Blazers.