The match is the first of back-to-back fixtures against Ian McGeechan's men, with the two sides also scheduled to meet in the Guinness Premiership on March 29 at Welford Road.
England internationals Ben Kay, Tom Croft and George Chuter return from Six Nations duty to earn a place in the starting XV, as does Italy's Martin Castrogiovanni.
Boris Stankovich starts at loosehead prop, with Harry Ellis starting his third successive match at scrum-half following a 10-month absence and Ben Herring also named in the starting line up.
"It's a massive game for the club and one which everyone is looking forward to," said Tigers forwards coach Richard Cockerill. "The attitude of the players has been top class all week and it's been pretty obvious how determined they are to do well on Saturday.
"Playing in a semi-final, on a big stage like the Millennium Stadium and against a good side like Wasps, is a great opportunity. Winning the trophy against the Ospreys last season was a massive achievement for the club and we've said all along that we're desperate to try and repeat that success this time around."
Tigers vs London Wasps, Millennium Stadium, kick-off 2.30pm
15. Johne Murphy
14. Tom Varndell
13. Seru Rabeni
12. Dan Hipkiss
11. Alesana Tuilagi
10. Andy Goode
9. Harry Ellis
1. Boris Stankovich
2. George Chuter
3. Martin Castrogiovanni
4. Louis Deacon
5. Ben Kay
6. Tom Croft
7. Ben Herring
8. Martin Corry (c)
Replacements
16. Benjamin Kayser
17. Marcos Ayerza
18. Julian White
19. Jordan Crane
20. Christophe Laussucq
21. Matt Cornwell
22. Sam Vesty
