The 5-foot-10, 216-pound Turbin played in all six games (one start) for Indianapolis this season with 23 carries for 53 yards and one touchdown. He also caught nine passes for 56 yards.
Turbin, 27, was escorted to the locker room in the 36-22 loss on Monday after a 9-yard reception with 2:30 left in the game. He tried to brace himself with his left arm before he was tackled.
Turbin appeared in 79 career games (four starts) with the Colts (2016-17), Cleveland Browns (2015), Dallas Cowboys (2015) and Seattle Seahawks (2012-14) and totaled 351 carries for 1,344 yards and nine touchdowns. He also made 85 catches for 685 yards and three TDs.
In a corresponding move, the Colts elevated running back Josh Ferguson to the 53-man roster from the practice squad.
The 5-10, 205-pound Ferguson was signed to the Colts' practice squad on Tuesday. He participated in the team's 2017 offseason program and training camp before being waived-injured on Sept. 2.
After passing through waivers, the 24-year-old Ferguson was placed on the team's injured reserve list. The Colts reached an injury settlement with Ferguson on Sept. 8 and he was removed from the IR list.
As a rookie in 2016, Ferguson played in all 16 games for the Colts and compiled 15 carries for 20 yards, 20 receptions for 136 yards and four kickoff returns for 80 yards. He was originally signed by the Colts as an undrafted free agent on May 2, 2016.