Both sides are set to name almost the same teams that played out their last meeting in England and Leicester will again be the slight favorites.
With the Foxes needing to balance between their dismal domestic campaign and their Champions League commitment, Ranieri will be mulling over whether he needs to keep Vardy wrapped up in cotton wool for their next EPL match - against West Brom on Monday morning (Singapore time).
Schmeichel fractured his right hand while punching the ball during the goalless draw on Wednesday and, after being assessed by a specialist, went under the knife on Thursday night.
Towards the end of the first half, Leicester finally started to show some ambition in the final third but they were restricted to a long-range effort from Jeffrey Schlupp, which rolled through to the goalkeeper after a deflection off the ineffective Jamie Vardy.
Copenhagen's opening chance fell to Federico Santander but he directed his header over the crossbar before William Kvist fired wide of the post from 25 yards.
It is a game that Leicester fans will probably remember far more for the pleasures of visiting the Danish capital than the turgid match their team played out with an opponent that more than had their measure.
Barcelona coach Luis Enrique gave an upbeat message ahead of Tuesday's Champions League game at Manchester City despite being without Gerard Pique, Jordi Alba, Jeremy Mathieu, Andres Iniesta and Aleix Vidal through injury. But major chances were few, and neutral viewers were not impressed.
Despite dropping points, Leicester remain top of Group G with 10 points, but Ranieri is keen for his players not to rest on their laurels. Mahrez fired over the bar from a promising position, but overall, Olsen had little to do. After that match, both of the team faces today's Champion League as second time.
Claudio Ranieri has expressed his dissatisfaction with the state of FC Copenhagen's pitch.
The Denmark global, who played for an hour after sustaining the injury and made a 'fantastic' save in the dying seconds in Copenhagen, is expected to be out for up to six weeks but he took to Twitter on Friday to reveal surgery "went well" and vowed to return from the injury as soon as possible.
Copenhagen wanted a penalty for a perceived handball by Huth, but to the fury of the home crowd, the official was unmoved. Copenhagen, unbeaten in 15 months at their stadium, are used to dominating possession at home, and were pressing hard from the early stages but the final, key passes usually lacked the sophistication to trouble Leicester's deep-lying defence. Okazaki wanted a penalty of his own for a shove, but again, the referee didn't budge.