Graham, who missed 11 days before he returned to full-team drills on a limited basis during Thursday's practice, tested his injured shoulder during pregame warm-ups before making the decision official.
Graham, who suffered the shoulder injury against the Tampa Bay Buccaneers,played a limited role with 18 snaps under similar circumstances last year when he was rehabbing from a plantar fasciitis injury -- and he wound up catching two touchdown passes. The Saints could potentially have a similar red zone-specific role for him this week.
If Graham is limited, his targets likely will be replaced by a committee of tight ends and receivers, including backup tight ends Benjamin Watson and Josh Hill, and receivers Marques Colston, Brandin Cooks and Kenny Stills.
ESPN.com's Mike Triplett contributed to this report.