Alloa, who will be presented with the Third Division title flag ahead of kick-off, will be without suspended central defender Ben Gordon against visitors East Fife.
Manager Paul Hartley is hopeful of adding to his squad with the signing of a loan striker from an SPL side, however he has dismissed talk of the deal being for St Johnstone frontman Stevie May.
Hartley said: "It is a big day for the club and for the Alloa community and we are looking to put on a performance to match that.
"East Fife are a good strong side and it is always difficult to predict how the first league game of the season will go but we have prepared properly and are looking for a positive result."
East Fife are without suspended pair David White and Ross Brown as they open up their league season.
Manager Gordon Durie will include former Rangers and Motherwell player Bob Malcolm as a trialist after a number of Fife players suffered knocks in the 4-0 defeat from Rangers in the Scottish Communities League cup in midweek.
Durie said: "I will finalise my side at Saturday lunchtime as we have three or four guys struggling to make it at the moment after putting an incredible effort in against Rangers in midweek.
"We were well beaten but the players performed well. It is a big day for Alloa and that makes it more difficult to get a win from it but that is our aim."