The 24-year-old picked up a groin injury in the Foxes' pre-season win over Werder Bremen at the weekend, throwing his participation against the Toffees into doubt.
"[We are] disappointed to pick up a potential injury in terms of Marc Albrighton because I think he's had a very good pre-season so that's the only downside," he told the club's official site.
"It's groin-related but exactly what I don't know at the moment, we will have to wait and get the scan results.
"We will deal with it - it's something that happens and I'd rather pick up injuries in games rather than in training so we will have to see how that pans out."
The encounter at the King Power Stadium will mark Leicester's first top-flight game for a decade after Pearson led his side to Championship glory last season.