Whiteside was injured during Wednesday's game against the New York Knicks. He underwent an MRI on Thursday and that is when the seriousness of the injury was detected.
The Heat said Whiteside's rehab process will include a strength and conditioning program over the next one to two weeks.
The first game Whiteside will miss is Friday against the Charlotte Hornets.
Whiteside is averaging 14.9 points, 12.7 rebounds and 1.6 blocked shots per game this season. He ranks third in the NBA in rebounding.