Waite, 28, suffered a hamstring injury in the round 11 win against Port Adelaide and missed the team's wins against the Brisbane Lions and the Sydney Swans as well as last week's 36-point defeat by West Coast at Etihad Stadium.
Rugged midfielder Mitch Robinson also missed last week with soreness, but Ratten confirmed the Tasmanian would return to the top-four team that put in an uncharacteristic performance against the Eagles.
"I suppose when you set some new things up at the start of the year then look at [that game] it was very unlike us in the way that we've played," Ratten said from Visy Park on Wednesday.
"I think it was a really good reality check for us.
"We got beaten in so many areas and that's been a strength this year. Even when we lost the Geelong game, the KPIs and the way played … there was a lot to like about it.
"Really, to be honest, I think we had about 25 minutes of footy [against the Eagles] for the whole game that was something that you could smile about. The rest was just chasing West Coast, which was a credit to them.
"We looked like we didn't have a lot of run so we'll make sure that we bring our running shoes this week."
The Blues will be without full-back Michael Jamison for the clash against the Tigers after he damaged the meniscus in his left knee against the Eagles and underwent surgery that will sideline him for four weeks.
"Michael's form has been outstanding and replacing him is going to be tough, but I'm really excited to see who does step up and take control of that back six now," Ratten said.
"Is it Jordan Russell who really starts to lead from the front? Is it Gibbs or Thornton? Do they take the next step and really lead and control the back six?"
Former Cat Jeremy Laidler will "probably" return from a knee injury after a four-week absence, but Ed Curnow (quad) and Nick Duigan (calf) appear less likely after being held out of competitive ball work at Wednesday's main training session.
Ratten feels he has three candidates for the job on Richmond full-forward Jack Riewoldt and isn't tempted to use the versatile Waite in defence. However, he added there was a lot more to combating the Tigers' forward line than keeping the mercurial goalkicker quiet.
"Over the last few weeks it's been Tyrone Vickery and Riewoldt who have been the main targets," he said.
"I think what Richmond has done in moving Jack out a little bit and allowing Vickery to play out of the goal square is allow him to grow as a player and their balance seems to be really good.
"If you put too many eggs in the basket of stopping Jack then Vickery will get out and start to hit the scoreboard."
Chris Judd had a rare quiet game against West Coast - he managed just 17 possessions against his old club - but Ratten denied the skipper had been suffering from a virus on match day and is fit to lead the team this weekend.
