The junior, who is averaging 9.7 points and 3.4 rebounds per game this season, sustained the injury after being elbowed by teammate Akoy Agau during Monday's practice. Pitino added he doesn't believe the concussion is serious but said Blackshear won't travel to Houston because "it takes a lot out of you. I think he'll be fine in a couple of days."
Blackshear started against Central Florida on Saturday, getting 10 points and six rebounds in 31 minutes.
"We tried Wayne at power forward, and I was really pleased with his last game," Pitino said. "He has a better chance of beating people off the dribble. He's very physical inside."
Pitino shuffled his starting lineup against the Golden Knights after losing by three to Cincinnati.
"I really like the way the team looked," Pitino said. "I felt we weren't getting enough offense. We're not a great defensive team. We're not getting a lot of shot blocking inside. But we play extremely hard. That's a good thing."
The No. 14 Cardinals (18-4) have a quirk in the schedule and don't play again after the Houston game until next Thursday at Temple. Pitino said he expects Blackshear to be available against the Owls.
The Associated Press contributed to this report.