Roy had an MRI exam and team doctors determined there is no immediate need for surgery. He will be evaluated again next week.
A three-time All-Star, Roy left the Blazers' game at New Orleans last Saturday with a pronounced limp after playing 22 minutes.
Roy, who leads the team with 18.1 points per game, had expressed concern about his knees after playing significant minutes early in the season.
The Blazers host the Denver Nuggets on Thursday and Utah on Saturday.