Londoner Whyte, 34, is fighting for the first time since he was knocked out by Tyson Fury in a WBC world title clash in April.
Franklin, 29, will be looking to extend his undefeated record from 21 fights and put himself in contention for a lucrative payday against one of the divisions leading men.
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There is little love lost between the two camps, who were involved in a heated exchange during Thursday’s pre-fight press conference.
Whyte – labelled a “wounded lion wandering in the jungle” by Franklin’s trainer Jesse Addison – was pulled away from the face-off after an altercation with the American’s promoter Dmitry Salita.
There was, though, no such drama during the official weigh-in at The Drum Wembley.
Both men sported football shirts of their respective countries, who play against each other at the World Cup later on Friday.
Franklin topped the scale at eighteen stone and five pounds, while Whyte weighed in at 17st 13lbs.
Both fighters calmly posed for pictures before the mandatory stare down, which ended with a mutual thumps up.
Despite being stopped by Fury, Whyte remains hopeful he can again make an impact on the division.
“I still have time and I am still young enough to correct the mistakes and stand in there and have a very good chance of being a world heavyweight champion,” said Whyte, who was knocked out in two out of his last three fights.
Franklin is determined to put on a good show and silence the home crowd.
“This is my chance to show that I can go toe-to-toe with any heavyweight in the world,” the American said. “I am coming to finish him, so he better not be looking past me.”
Saturday’s card will also see Fabio Wardley and Nathan Gorman clash over 10 rounds for the vacant British heavyweight title, while Sandy Ryan defends her WBC international super lightweight belt against Argentina’s Anahi Sanchez.