Mitchell suffered the injury in the final seconds of Friday’s loss to the Warriors while driving to the basket. While he remained in the game and made a pair of free throws, he limped to the locker room.
Mitchell, 26, is having another All-Star season in his first year with the Cavs, averaging 31.7 points, 6.1 assists and 4.7 rebounds in 11 appearances.
He has missed two games so far with ankle issues, the previous one causing him to miss road win over the Pistons.
The Cavs (8-5) have lost four straight after an eight-game winning streak. They visit the Bucks on Wednesday, before returning to Rocket Mortgage FieldHouse for four straight games.