Icardi was stretchered off the pitch in the 85th minute of Galatasaray's 3-2 win in Istanbul on Thursday night.
The 31-year-old Argentine has recorded six goals in 13 appearances across all competitions this season.
He joined the Turkish club at the beginning of the 2022-23 season on a one-year loan from Paris Saint-Germain, later making a permanent move by signing a three-year contract the following summer.
Icardi enjoyed a successful scoring record during his six seasons at Inter Milan, where he tallied 124 goals in 219 matches before his transfer to PSG.