The pair have been named in the Crusaders starting lineup for Saturday night's match against the Japanese side the Sunwolves.
Prop Franks makes his return from an Achilles injury and Dagg a knee injury with the pair not having played since September.
Dagg will start on the right wing.
Regular skipper All Blacks lock Sam Whitelock has been rested with fellow with fellow All Black Matt Todd to lead the side.
The Chiefs have made four changes to their starting lineup for their match against the Queensland Reds in Brisbane on Saturday night.
Two changes are in the front row with prop Karl Tu'inukuafe and hooker Liam Polwart starting.
Tu'unikuafe replaces Aidan Ross, who broke an ankle in loss to the Hurricanes last round while Polwart comes in for Nathan Harris.
Canada captain Tyler Ardron returns at lock after being cleared of concussion while Fijian Pita Gus Sowakula returns at number eight.
Te Toiroa Tahuriorangi is preferred at halfback to Brad Weber, who is on the bench after recovering from a wrist injury.
The Reds are bottom of the four Australian teams but Chiefs coach Colin Cooper is wary of the challenge ahead.
"Playing the Reds in Brisbane will be a tough assignment and we've worked really hard with the leaders on having the right mindset," he said.
"The Reds have a number of threats, with their loose forwards, midfielders and outside backs all big carriers of the ball."
Cooper wasn't discouraged by the defeat to the Hurricanes, who now lead the overall competition, while the Chiefs are third in the New Zealand conference.
"Coming off a loss makes us more determined," he said.
"The good thing about that game is that there were opportunities but we just didn't finish them".