DeRozan missed 21 games with a torn groin tendon.
The 25-year-old guard was averaging 19.4 points and 4.2 rebounds a game this season before injuring his groin in a game against the Dallas Mavericks on Nov. 28.
He said last week that the injury was fully healed, but he wanted to participate in a few more practices before playing in a game.
The Raptors went 12-9 without DeRozan in the lineup but slipped to third in the Eastern Conference standings entering play Wednesday.
The injury was the longest of DeRozan's career. He'd previously missed just 11 games over his previous five seasons in the NBA combined.