Ameobi returned to training on Monday after almost three months out with a foot problem, and could make the bench at St James's Park.
However, Butt – who missed out against Preston North End on Monday night with a calf problem – will sit out the g
ame, while boss Chris Hughton is hopeful on Ryan Taylor and Danny Simpson and their respective calf and thigh problems.
Ameobi struck five times before succumbing to injury in late August, and Hughton says he is a "possibility" for Swansea.
"Nicky's unfortunately out with a calf strain, and he'll miss Saturday – we know that already," said Hughton.
"But there's better news on Shola.
"He's had a couple of days of good training, and is in good spirits. There's a possibility he will be OK for the weekend.
"Realistically, you're looking at Watford, but certainly he's a possible
for Swansea."
Taylor, meanwhile, suffered his injury in the warm-up at Deepdale, and Simpson limped off during the second half.
Hughton went on: "The good thing about Danny is that it's not a pull – it's a knock. So we're hopeful he'll be available.
"Ryan Taylor missed the game, but we are assessing him day by day.
"We're certainly more optimistic than we were when we left Preston the other night."
