The Reds beat the Royals 1-0 in the league at the Crest Finance Stadium less than a month ago - Will Harris netting a late winner,
Another meeting between the two sides in the Russell Cotes Cup last week was abandoned at half-time due to a waterlogged pitch.
Both teams warmed up for the eagerly-anticipated derby in fine style with good wins at the weekend.
The Reds crushed Tadley Calleva 5-1 - their sixth league and cup win in a row - whilst the Royals won 2-0 at Amesbury Town.
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Fareham manager Pete Stiles is anticipating a repeat of the hard-fought close affair from their first meeting on October 29.
'I thought we deserved to win the first game,' said Stiles.
'Our front players caused them a few problems and we were solid at the back.
'That win counts for nothing though going into this game.
'This is a totally different contest. In local derbies form very much goes out of the window.
'They will be coming to us determined to try and put the record straight.
'All the players know each other and none of them want to lose.
'We are on a good winning run and are looking to keep that going.
'It has got us within touching distance of the top group in the league.
'Against Tadley it was a job well done and we could have won by a bigger margin.'
The Reds have a doubt over defender Ethan Jones who picked up a knock at the weekend.
Royals manager Mick Catlin is looking for an improved performance from the first game, where he felt his players allowed themselves to be hustled out of their stride.
'The Creek is red at the moment and we want to turn it orange,' said Catlin.
'The last time there were few chances for either team and one goal settled it.
'Fareham had a lot of pace up front and took us a bit by surprise.
'That is something we must look to nullify.
'We will certainly have to look after the ball better and not repeat the mistake of going too long too early.
'That played right into their hands.
'We know that we have a score to settle.'
The visitors are optimistic striker Jason Parish will be fit to return, and Mike Turvey may also be included in the squad.
'When we can put out our strongest team we are a match for anyone in our league,' said Catlin.