Richardson has been blighted by injury problems since joining from Sunderland last summer, only making 12 appearances for the Cottagers this season.
Jol thinks that at his best the England international can be "terrific" for Fulham in a number of positions.
He told Sky Sports News: "Kieran has been injured a bit but he is back now and will be involved in the squad. He is a versatile player who can play on the left, in midfield and left-back.
"He is a good player and has all the qualities. He had a good season with Steve Bruce at Sunderland when he was left-back, and should be terrific here.
"You can give him the licence there to express himself and he will be good, I have no doubt about that."
The 28-year-old is back in contention to play against his old club this afternoon when Fulham face Sunderland at the Stadium of Light.