McDonagh took part in an optional skate Saturday morning, two days after leaving the Lightning's 5-4 victory against the Buffalo Sabres with an upper-body injury.
Tampa Bay is 6-2-0 in its past eight games and has scored at least four goals in four of its past five.
The Panthers, 1-3-1 in their past five games, have allowed at least four goals in six of their past eight. Goalie James Reimer, who made 22 saves in a 3-2 overtime win against Buffalo on Friday, could start, coach Bob Boughner said.
Tampa Bay is 2-0-0 against Florida this season, winning twice at home -- 2-1 in a shootout on Oct. 6 and 7-3 on Nov. 21.