Jackson injured his ankle just six minutes into Sunday's win at Temple. The Bearcats had called him questionable leading into Thursday night's game (7 p.m. ET, ESPN).
The 6-foot-8 Jackson is Cincinnati's second-leading scorer at 11.1 points per game and leading rebounder with 7.0 per game.
Besides being a local rivalry, Thursday's game is key for the Bearcats (19-2), who are unbeaten at 8-0 in the American Athletic Conference. Louisville is in second place in the conference at 6-1.
ESPN.com's Jeff Goodman and Andy Katz contributed to this report.