The Wales number one's return will be a boost for boss Mick McCarthy as the Championship's top two goalscoring teams go head-to-head at Molineux.
Carl Ikeme, who impressed in place of the suspended Hennessey during Saturday's 2-0 win over Bristol City, should return to the bench.
Chris Iwelumo serves the second of his three-match ban, meaning Andy Keogh should keep his place in attack alongside Sylvan Ebanks-Blake.
Defenders Matt Hill (medial knee ligament), George Elokobi (anterior cruciate Ligament) and Jody Craddock (metatarsal) all remain sidelined for the long-term.
Victory against the Royals would equal Wolves' club record of eight successive wins, last achieved in the promotion winning season of 1988/89.
Reading manager Steve Coppell could be without captain James Harper.
Harper missed out on the 4-0 rout of Swansea on Saturday with an ankle knock and will be given until the last minute to prove his fitness in order to return against Mick McCarthy's side.
Youngster Jem Karacan is poised to continue his fledgling partnership with fit-again Brynjar Gunnarsson in the centre of midfield should Harper miss out.
Gunnarsson made his first league start against the Swans since picking up a serious knee injury in January and came through 70 minutes unscathed.
Striker Kevin Doyle, who scored another brace at the weekend and despite picking up a dead leg with a last-minute collision with Swansea goalkeeper Dorus De Vries, is confident of being fully fit.
Captain Graeme Murty (calf), Marek Matejovsky (ankle) and Michael Duberry (calf) remain long-term absentees as the Royals look to take their imperious home form on the road.
Sporting Life.