The team announced the reigning MVP's anticipated absence Friday, two days after Matthews was injured in Toronto's victory against the New York Rangers.
Matthews is expected to miss at least six games and could be out for a few more. The timing of the injury coinciding with the NHL All-Star break and the Maple Leafs' bye week prevents this from costing Matthews more time out of the lineup.
After being voted an All-Star by fans, Matthews is now out of the event scheduled for Feb. 3-4 in Sunrise, Florida. The league announced that Aleksander Barkov from the host Florida Panthers will take Matthews' place on the Atlantic Division All-Star roster.
Matthews, who won the Hart Trophy last season after leading the NHL with 60 goals, has 53 points in 47 games this season.
Toronto (30-11-8) has won four of its past six games and has the second-most points in the league (68) behind Atlantic Division rivals the Boston Bruins (80).
Information from The Associated Press was used in this report.