Bynum has missed the past 32 games after suffering a torn medial collateral ligament in his right knee Jan. 31.
A source said Lakers coach Phil Jackson telephoned Bynum Tuesday night and told him he was going to be activated for Thursday's game.
Bynum was averaging 14 points and 8.2 rebounds, with 56 percent from the floor at the time of the injury.
Bynum has been practicing with the team since last week. Feeling strong, Bynum recently told Jackson he was ready to return to action.
The Lakers were 37-9 with Bynum in the lineup this season, 25-7 without him.