Jackett spent six seasons at The Den, leading the Lions to Wembley on two occasions as he returns to the club for the first time since leaving in 2013.
Victory might help Wolves move into the playoff places if other results are favourable, but Jackett is wary of the partisan crowd awaiting his troops at the weekend.
"Millwall is compact and if it gets going and it's going very well, the 10,000 in there can feel like 20,000," he told the club's official website.
"There are a lot of intimidating venues in the Championship and when they're going well and behind their team, they can be very good for the home team.
"The banter from behind the dug-outs is very lively and it's quite funny, very cutting, at times can be critical, but overall very good - whether you're the home or the away manager."
Kickoff in London is scheduled for 3pm.