The loss of the All-Star guard from France could be a big setback for the Spurs, who enjoy the best record in the NBA with a 46-14 mark.
Parker injured the ankle in the third quarter of Friday's win over the Sacramento Kings. An examination confirmed the sprain.
He has averaged 21.0 points and 7.6 assists, both team highs, in starting 56 games this season and recently played in his fifth NBA All-Star game.
