Wade, a rookie who leads the team in assists, hurt his right foot in a fall while trying to block a shot during a 108-104 loss to the Milwaukee Bucks Sunday.
The team said Wade would be sidelined a week to 10 days.
"I came down wrong and then Michael Redd (of the Bucks) came down on me," Wade said. "My foot was under his body when he fell, and that twisted it."
Wade, who has already missed 18 games this season with various injuries, would be replaced in the starting lineup by Rafer Alston, the Miami Herald said Tuesday.
Miami is in a virtual tie with Boston for the eighth and final playoff spot in the NBA's Eastern Conference.