Tchouameni has not represented Los Blancos since suffering a fractured foot in the La Liga contest with Barcelona at the end of October.
The 23-year-old was not initially expected to be back until after the winter break, but he has made a quick recovery from the injury, returning to training last week.
Tchouameni is back in the squad for the clash with Villarreal, and he is expected to start on the bench with a view to featuring at some stage of the second period.
Eder Militao and Thibaut Courtois remain long-term absentees with serious knee injuries which were suffered in August, but the duo are both on course to return before the end of the campaign.
Dani Carvajal is also still missing with a calf problem, while Vinicius Junior (thigh), Eduardo Camavinga (knee) and Arda Guler (muscle) remain unavailable for selection.
Head coach Carlo Ancelotti has a decision to make between the sticks, with Kepa Arrizabalaga and Andriy Lunin battling to be given the nod.
"I have already decided on tomorrow's goalkeeper. They make me doubt my decisions, it's obvious because both of them are very good. But I'm not going to say who because I haven't spoken to them yet," Ancelotti told reporters ahead of the contest with Villarreal.
Vinicius Tobias and Nico Paz have benefitted from the absences to be included in the squad, but there is a lack of forwards, with Joselu, Brahim Diaz and Rodrygo the only options in that area of the field.
There have been recent concerns over Jude Bellingham's fitness, with the England international nursing both a shoulder and an ankle problem, but he is again in the squad.
Fran Garcia is also included amid suggestions that he could leave in January, with Borussia Dortmund believed to be interested in his signature.
Real Madrid are currently second in the La Liga table, two points behind leaders Girona, but the capital outfit would return to the summit if they were able to overcome an inconsistent Villarreal on Sunday night.
Real Madrid squad vs. Villarreal:
Lunin, Kepa, Mario de Luis; Alaba, Nacho, Vazquez, F Garcia, Rudiger, Mendy, Tobias; Bellingham, Kroos, Modric, Valverde, Tchouameni, Ceballos, Paz; Rodrygo, Joselu, Brahim