Ball, the No. 2 overall pick in this year's NBA Draft, suffered a mild right calf strain in Sunday's semifinal win over the Dallas Mavericks, according to Lakers sideline reporter Mike Trudell.
The Lakers played the Portland Trail Blazers in the title game.
Ball, the first Lakers player to be named MVP, led the summer league in assists with an average of 9.3. He also averaged 16.3 points, 7.7 rebounds and 2.5 steals and had two triple-doubles.
The former UCLA product exited Sunday's game midway through the third quarter after piling up 16 points and 10 assists. His injury was initially listed as stiffness in the calf.
"This is the first time my calf got tight," Ball said after the game. "Just being cautious. I wanted to get back out there, but the training staff is going to take care of me and I will be with them tonight and tomorrow and hope I can get back out there tomorrow."
Joining Ball on the all-summer league first team were John Collins of the Atlanta Hawks, Josh Jackson of the Phoenix Suns, Dennis Smith Jr. of the Dallas Mavericks and Caleb Swanigan of the Portland Trail Blazers.
The second team included Cheick Diallo of the New Orleans Pelicans, Bryn Forbes of the San Antonio Spurs, Kyle Kuzma of the Lakers, Wayne Selden Jr. of the Memphis Grizzlies and Jayson Tatum of the Boston Celtics.