Pau Gasol hurt his right arch in Monday night's double overtime win over the Atlanta Hawks and wasn't able to continue playing.
The Grizzlies lost their leading scorer and rebounder with 3:34 left in the second quarter.
The Spanish international's fitness will be reviewed before Memphis' next game on April 2 against Phoenix.
"Hopefully, I will be able to recover," said Gasol, who scored 16 points on eight of nine shooting before the injury. "I won't try to force it."
Gasol, in his third season with the Grizzlies, is having his finest NBA campaign after leading Spain to the silver medal at the European Championships last summer. He is averaging 18 points and almost eight rebounds a contest.
The 2.13m power forward will be the focal point of the Spanish attack at the Olympics later this year.
Memphis secured their first-ever play-off place on Sunday and are one game behind fourth-place San Antonio in the Western Conference after their 136-133 win over the Hawks.
James Posey forced a second overtime with a deep 3-pointer at the buzzer and finished with a career-high 38 points.
Atlanta had a chance to put away the game at the end of the first overtime, but rookie Travis Hansen missed the first of two critical free throws with two seconds left.
After a long inbounds pass from Shane Battier, Posey launched a clutch 30-footer that dropped in as time expired to tie the game at 122-122.
Jason Williams drained a 3-pointer to give Memphis the lead for good, 133-131 with 26 seconds to go.
Posey made two free throws for a 136-133 advantage with 10 seconds remaining and Atlanta's Bob Sura and Stephen Jackson missed 3-point attempts in the final seconds as the Grizzlies improved to 5-0 in overtime this season.
Greek international center Jake Tsakalidis had a rare start for Memphis and scored 15 points, grabbed nine rebounds and blocked four shots.
Forward Stromile Swift was unavailable down the stretch with a dislocated finger and guard Bonzi Wells was sidelined with a bad shoulder.