Brendan Rodgers's side have one foot in the Europa League knockout stages and avoiding a three-goal defeat at Parkhead will see them pip the Belgian side - whom they beat 3-0 earlier in the competition - to third spot in their Champions League group.
Dembele has been passed fit by Rodgers to take part but it remains to be seen whether the Celtic boss risks him from the beginning, meaning Leigh Griffiths - without a goal in four games - or Odsonne Edouard could spearhead the Bhoys' attack.
Edouard grabbed a hat-trick in Saturday's 5-1 demolition of Parkhead in a game where Griffiths never made it off the bench, and Nicholas believes the Scottish hitman is "going off the boil" lately and backs his former club to see off Anderlecht, who have lost all five Group B games.
He told Sky Sports: "Anderlecht were in turmoil in that match and they don't seem to have come out of that, despite getting a win at the weekend, so I'm quite confident for this one, for once!
Anderlecht have to win by three goals to get level and that isn't going to happen. Celtic fans will understand they don't need to force the game, the atmosphere will build and I think Celtic will pick them off.
We're waiting to see if Moussa Dembele is fit and if he is then they can definitely do some damage on the break. If he starts I'd be backing him to score, especially with Leigh Griffiths going off the boil."