It's the first time Wallace has featured in a Munster squad this season having sustained a knee injury in the August international against England in Dublin.
Also included in the squad are Simon Zebo and Denis Hurley.
Both spent last week with the Ireland squad in Carton House, Hurley only released on the Friday morning. However, neither are required this week and will travel with the squad to Parma from Dublin Airport on Friday morning.
One notable absentee from the squad is Dave Foley who dislocated a shoulder on Saturday in Newport. He'll see a specialist on Monday to determine the exact extent of the injury.
Munster Squad: M Horan, W Du Preez, BJ Botha, J Ryan, D Fogarty, M Sherry, S Archer, B Holland, I Nagle, M O'Driscoll, Dave O'Callaghan, T O'Donnell, P Butler, J Coughlan, D Wallace, C Sheridan, D Williams, I Keatley, S Deasy, S Zebo, L Mafi, S Tokula, L O'Dea, D Hurley, F Jones, S Scanlon, J Murphy.