Luis Figo has welcomed the news that Novo will miss tonight's Champions' League game at the San Siro after breaking a bone in his foot against Hearts at the weekend.
The Spanish striker could be sidelined for up to two months, meaning he will miss most of the competition unless Rangers can progress to the knock-out stages.
Figo identified Novo as the player he most feared but, despite their failings in the Premier League this season, McLeish has urged the rest of his players to stand up and be counted at the San Siro.
McLeish said: "That is high praise indeed for Nacho from Luis Figo but I have other good players. Nacho was looking quite lively, he started running in behind defences again, but unfortunately he was cut down with an injury.
"That's a blow to the squad and it's a blow to my forward options. But it's an opportunity and a challenge for someone else. They have to come in and do their best and hopefully give Inter Milan some problems. It's a chance for everybody."
Rangers have dropped points to Aberdeen, Hibernian, Falkirk and Hearts in the domestic campaign as McLeish struggles to find his best system. McLeish admits he has thought long and hard about the best way to deal with the superstars of Inter Milan.
He said: "We haven't done as well as we would have hoped at this stage in the domestic season but this is a different kettle of fish.
"We know that Inter Milan are favourites and have an array of stars in their team. It's a fantastic team but we just have to try to upset the odds. We need a good performance. We need to try to up our performance level and I think that will give everybody more confidence."
With players such as Adriano, Obafemi Martins and Figo running the show for Inter, McLeish expects to gain little advantage from playing in an empty stadium, the result of Inter's spectator ban for European games.
The Rangers manager said: "It's difficult to say how the players will react to that but maybe it will suit Inter Milan less than us. We have to be organised against this team. They have quality movement, there is a bit of speed in the team and they have household names like Adriano and Figo.
"Those two names are recognisable but there are other tremendous players in their team like [Dejan] Stankovic on the left side of midfield, who will also be a major threat."
Earlier, Figo had said: "Of Rangers' individual players, I particularly rate Nacho Novo. I think we are lucky that he isn't fit to play in this game. Having watched Rangers beat Porto in their last Champions' League match, I know they will be hard rivals. I believe we need to be very disciplined if we want all three points.
"The key to an Inter victory will be getting an equal balance between defence and attack, keeping hold of the ball and, of course, scoring goals when the opportunities come our way. If we do that then I'm sure we will be OK."
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