Doyle suffered the injury during Sunday's win over the Miami Dolphins when he took a big hit in the fourth quarter. He was hospitalized as a result of the injury.
Colts head coach Frank Reich said he received a text Sunday night that Doyle was having a procedure performed on his kidney.
"The prognosis is good, but we're going to have to place him on injured reserve," Reich said, according to ESPN. "We've been in communication with him. We're expecting him to be released from the hospital soon."
Doyle has played a key role in the Colts' current five-game winning streak.
The Colts are 5-1 with Doyle in the lineup this season and 1-4 without him.
In his six games this season, Doyle has recorded 26 receptions for 245 yards and two touchdowns. He had four receptions for 16 yards and a touchdown in Sunday's 27-24 comeback win over the Dolphins.
He was named to the Pro Bowl last season, when he had 80 receptions for 690 yards and four touchdowns.
Doyle has played in 84 career games (42 starts) in six seasons with the Colts and has compiled 200 receptions for 1,728 yards and 14 touchdowns.
Doyle is also considered a reliable blocker.
The loss of Doyle leaves Eric Ebron as the team's top tight end. Ebron has 44 catches for 508 yards and 11 touchdowns.