Pedersen, 30, came through a 45-run-out for the reserves on Monday night after recovering from an Achilles injury.
Assistant manager Sammy Lee said: "It is like having a new signing. He came through the game very well.
"It is nice to have him back and that is promising news for us."
Meanwhile, Bolton boss Sam Allardyce has pulled out of a deal for Didier Agathe over the ex-Celtic winger's personal demands.
The Mirror says Agathe had been offered a deal for the rest of the season, but Allardyce grew frustrated with the former Celtic winger's personal demands.
Now Agathe may have talks with Crystal Palace and Leeds, who are also interested in taking him on.