Wallace skipped the Bobcats' morning shootaround after straining his hamstring late in the Bobcats' loss at Portland on Monday night. He attempted to warm up before the Bobcats ruled him out at game time.
Wallace, who has missed just two games all season, is averaging 19.2 points, 11.0 rebounds and 1.9 assists. He was selected the first All-Star in Bobcats history last week.
Stephen Graham took Wallace's place in the starting lineup.
Information from the Associated Press was used in this report