An MRI revealed no significant damage to the anterior cruciate or medial collateral ligaments.
He will get a second opinion on the injury and is scheduled to visit doctors again in four weeks. Machado will undergo a conservative plan of treatment, and if all goes well, he could return in 6-8 weeks. He should be ready for the start of spring training.
Machado, 21, hit .283 with 14 homers this season.
St. Louis Cardinals first baseman Allen Craig needs additional tests on his injured left foot and could be lost for the rest of the season.
Craig left a Sept. 4 game with a sprained left foot. The foot was re-evaluated Sept. 12 and doctors recommended that he resume wearing a walking boot to protect it. He was taking batting practice in late September but not putting weight on his left foot.
He remains in a walking boot and is scheduled for X-rays this week. If he improves this week, he could be sent to the instructional league to face live pitching, but it would still leave the Cardinals with a difficult decision regarding the playoff roster.
Craig is hitting .315 with 13 home runs and 97 RBIs.
San Francisco Giants minor league third baseman Nathanael Javier was suspended for 50 games after testing positive for a performance-enhancing substance, the commissioner's office announced on Tuesday.
Javier, 17, hit .229 in 236 at-bats for the Dominican Summer League Giants in 2013. The third baseman's suspension will take effect at the start of the 2014 DSL season.