Babcock said there were no ice time limitations for Matthews.
"I'm just going to play him and see what happens," Babcock said. "Then at the end of the night … I try to do what I think is right and then at the end, whatever they've got, they've got."
Center Frederik Gauthier will come out of the lineup to make room for Matthews.
Matthews returned to practice in a non-contact jersey Nov. 18, but he had been skating regularly on his own while recovering. But not having played in 32 days, he said he will try to keep things simple early on.
"Try not to get too far ahead of myself, I haven't played in a game in over a month so I've still got to kind of find my game back and get my legs back under me, pace of play, timing and everything," Matthews said. "I think that just comes back over time, but especially that first period, I'm just going to try to keep things simple and not get too fancy or cute."
The Maple Leafs are 17-8-0 this season, and 9-5-0 without Matthews, who has 16 points (10 goals, six assists) in 11 games.
"He's a good player, he's got good speed through the middle," Babcock said. "He can shoot the puck, he's a committed guy. Anytime you've missed hockey it's going to be hard to sustain it day after day, so the conditioning part is going to have to come back. But he's ready."
The No. 1 pick in the 2016 NHL Draft, Matthews has 148 points (84 goals, 64 assists) in 155 games through three seasons with Toronto.