As a result of the injury, it is uncertain whether he will play in Saturday's game against Washington Wizards.
James suffered the injury when he was fouled by the Hornets' Jeremy Lamb while driving for a basket with 31.2 seconds left in the third quarter.
James immediately covered his face and sat on the floor for a few moments before signaling for a timeout and heading to the bench.
Cavaliers' trainer Steve Spiro looked at James' eye, but he returned to the game and made the free throw that resulted from Lamb's foul on the play.
James finished the game and scored 10 of his 32 points in the fourth quarter.
After the game, James said his vision was blurry in his right eye, and the Hornets' team eye specialist examined him.
Cavaliers forward Kevin Love suffered a corneal abrasion during the 2014-15 season and he missed one game.