Winnipeg coach Paul Maurice said Scheifele and the team are lucky "there's not going to be any surgery required."
Although Maurice did not give an official timeline, he indicated that Scheifele will miss more than "three or four weeks."
Maurice acknowledged it will be tough to go without Scheifele as he "was playing some really, really important minutes."
The 20-year-old has 13 goals and 21 assists and is tied for the team lead in plus/minus at plus-9.
The Jets had better news in regards to the team's other plus/minus leader, announcing it has reached an agreement with defenseman Mark Stuart on a four-year, $10.5 million contract. The 29-year-old American leads the team with 163 hits and 118 blocked shots.
"He is what the Winnipeg Jets are about," general manager Kevin Cheveldayoff said Wednesday.