Penny, 26, spent last season with the Lions before making a surprise return to the Wolves over the winter.
He replaces skipper Ritchie Hawkyard, who was concussed during last week’s friendly against Oldham and is being rested as a precaution.
New signings Freddie Walker and Ben Warrilow also picked up injuries and will miss the game.
“He wanted to stay on the pitch at the time and wanted to play this week but we are not prepared to take a risk with him.
“Freddie would have come in for Titch but he has damaged his shoulder joint while Ben sustained a knee injury in training on Tuesday and needs to rest it.
“It’s going to be a long season and we need to look at the long term rather than the short term.
“We won’y know the team until the last minute because we have a couple coming back from injury.
“It’s great to have Kev Penny available for this game. He was our best player last season and has been training really well for Warrington.
“He is waiting for his opportunity there and he’s more than happy to come back and play for us.”
Halifax winger Rob Worrincy has been ruled out with a quad injury.