McAllister practiced at the club's suburban headquarters and could be activated for Saturday's divisional round playoff game against the Arizona Cardinals.
Payton confirmed the decision in a text message to The Associated Press. WWL-AM, the radio station that broadcasts Saints games, first reported the move.
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The 31-year-old McAllister has been working out on his own and rehabbing a knee injury.
He is the Saints' career rushing leader. His 55 total touchdowns and 49 rushing TDs also are club records.
It wasn't clear how the Saints planned to use McAllister. An eight-year NFL veteran, all of which he spent with the Saints, McAllister last played in 2008, when he rushed for 418 yards and five touchdowns on 107 carries.
The Saints waived him shortly after last season, and this season have used a three-prong attack of Pierre Thomas, Mike Bell and Reggie Bush out of the backfield.
But Thomas has been practicing this week with injured ribs, which he sustained three weeks ago in a loss to the Tampa Bay Buccaneers.
New Orleans Saints cut veteran kicker John Carney, stick with kicker Garrett HartleyDominguez close to Valencia deal