Toronto faced Philadelphia on Wednesday night.
An All-Star for the first time last season, DeRozan has not played since suffering the injury in the third quarter of a Nov. 28 home loss to Dallas when he slipped and fell on a drive to the basket.
The Atlantic Division-leading Raptors went 12-9 without DeRozan and have lost five of their past six.
DeRozan is averaging 19.4 points and 4.2 rebounds in 16 games. He replaces James Johnson, who had started the previous two games.
Before this season, DeRozan had missed only 11 games over his first five NBA seasons.