"It's been a long time without playing football and I can't wait to get back," he told the club's official website. "Hopefully I'll also get into the team and we'll win. The last time I played was against Bristol City - almost a month ago!
"It's going to be interesting. Their midfielder Jack Colback is a good mate of mine, but you have no friends on the pitch as they say. If anything, I look forward to it even more, want to get out there and get three points to give them a bit of banter later."
On facing Roy Keane, his boss at Sunderland, Waghorn added: "I am obviously grateful to him for my debut, it was great for me as a young lad.
"He's a great manager who knows how to get you going and he has helped me massively on the way. But I have moved on now and so has he."
Waghorn believes his loan spell is having a positive impact on his promising career.
He told the club's official website: "It has really helped my progress as a footballer. I feel that I'm getting more experience every day.
"The push for promotion adds to it immensely. I've learnt different things: winning, losing, handling pressure, being top of the league.
"For a 19-year-old, this is a massive opportunity and I really appreciate it. My time at Leicester so far has been a huge learning experience."