Williams, the franchise leader in games played with 416, has missed the last two games after leaving during the third quarter of Friday's 96-91 loss to Chicago.
Williams was activated from the injured list on March 17, less than three weeks after undergoing surgery to relieve inflammation in his right knee. He missed two games before the surgery and nine after it.
In 56 games this season, Williams is averaging 8.8 points, 4.0 assists and 30.9 minutes. He is eligible to return April 4 against Milwaukee.
The Raptors began Wednesday in 10th place in the Eastern Conference, one game behind Cleveland for the eighth and final playoff berth.