The defender has missed the club's last four outings but striker Mario Balotelli still has three games remaining of his own four-match ban.
Defender Kolo Toure and midfielder Yaya Toure are away on international duty but City have no injury concerns.
Kompany's inclusion could be a major piece of team news as the leaders are attempting to improve a poor record at Goodison Park, where they have won on just one of their last 13 visits.
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"It is important that we have Vincent available," Mancini said.
"He is our leader and a very strong defender, one of the best in Europe.
"And because he is so young, he can improve."
Click below to watch Roberto Mancini's pre-match press conference
Everton are still without a number of key players for the game.
Shane Duffy could continue in central defence in the absence of Sylvain Distin (hamstring) and Phil Jagielka (knee) although fit-again veteran Tony Hibbert is an option.
Midfielders Seamus Coleman (thigh), Leon Osman (knee) and Jack Rodwell (hamstring) are also still missing.
Everton (from): Howard, Mucha, Neville, Hibbert, Duffy, Heitinga, Baines, Gibson, Cahill, Drenthe, Fellaini, Saha, Donovan, Anichebe, Stracqualursi, McFadden, Gueye, Vellios, Baxter.
Manchester City (from): Hart, Pantilimon, Richards, Zabaleta, Kompany, Savic, Lescott, Clichy, Kolarov, Rekik, Milner, Johnson, Nasri, De Jong, Silva, Barry, Hargreaves, Aguero, Dzeko, Razak, Suarez.
Everton league form: WLLDD
City league form: DWWWW
Key opponent: Tim Cahill - Hasn't scored as many as usual this season but always a threat
Prediction: Everton 0 Manchester City 1 - with Kompany back, City should win but they will have to work hard for it
Click here for all the latest odds from Betfred.
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