Price, a two-time All-American who is projected as a possible first-round pick, said he felt "a little pop" on after his third rep and immediately stopped. Indianapolis Colts doctors and trainers then looked at him, and he received his MRI results Friday morning.
While he is going to seek a second opinion, he said the injury is "very minor" and that he doesn't believe he'll miss time. He said he should be fine going into training camp.
"Looking at the MRI results, we were able to see a little bit of an issue, nothing that's going to force me to miss time at all," said Price, who started 55 consecutive games for the Buckeyes. "I'll be fine for the season going forward."
Price was in considerable pain during his bench-press rep Thursday. He immediately grabbed his left pec and left the stage grimacing.
"Felt a pop," Price said, adding that he stopped immediately. "... Didn't feel something right [and] grabbed it just to make sure. Felt a little bit of swelling, felt a little bit of a pop, a tingle."
At first, he said he was pretty emotional in the van ride from the convention center to get an MRI because he had never had a serious injury in his career. His worst, he said, was a minor MCL sprain that didn't even cause him to miss practice.
He did not know yet whether he would need surgery on the pec but is glad that the situation wasn't worse. He called the injury "a freak accident" and doesn't believe it was something that came from his preparation beforehand.
"It's huge," Price said. "Again, you look at guys who could have a complete pec tear. I have no bruising. ... Yeah, definitely happy. It's definitely something minor, not something that is going to make me lose time and something that could impact me going forward in the season."
Price said he won't do any more drills at the combine.
ESPN's Michael Rothstein contributed to this report.