Higgins will not need surgery, Jackson said.
Higgins will be re-evaluated after two weeks, which means he may miss the team's next two games at home against the Chargers and at Tampa Bay.
He hurt the knee in the fourth quarter of Sunday's 12-9 overtime win over Baltimore, the Browns' first win in the AFC North since October 2015.
Jackson was noncommittal about adding a free agent to the roster, such as Rishard Matthews, who worked out for the Browns on Monday after being recently released by the Titans. "It's just hard to find those guys at this time to come in and contribute," he said.
Jackson did say he believes in the reserve receivers on the roster. Derrick Willies took over when Higgins was injured and had three catches for 61 yards -- including a 39-yarder that set up the game-winning field goal. Rookie Damion Ratley and veteran Rod Streater are the other two receivers.
Higgins had taken on increased responsibility against the Ravens after rookie Antonio Callaway had his snaps cut, in part due to a knee he tweaked in the Browns' loss in Oakland.
Higgins was having a good game, with three receptions for 66 yards, including a 19-yard reception for the game's only touchdown. Higgins' 16 receptions are third on the Browns, his 244 yards second.
Jarvis Landry leads the team in both categories with 29 catches for 381 yards.