NFL Network's Ian Rapoport reported that Boyd has a low-grade MCL sprain. The injury could sideline him for the remaining two contests of the season for the Bengals (6-8), who snapped a five-game skid with a 30-16 victory versus the Raiders.
Prior to his injury, Boyd celebrated a touchdown catch with a reprise of Johnson's Riverdance celebration.
Boyd posted career highs in receptions (76), receiving yards (1,028) and touchdowns (seven) this season.
The 24-year-old Boyd has collected 152 catches for 1,856 yards with 10 touchdowns in 40 career games since being selected by Cincinnati in the second round of the 2016 NFL Draft.
With the 6-foot-2, 203-pound Boyd injured and with Green out for the season, the Bengals will look to fellow wideouts John Ross, Cody Core and Alex Erickson for production when Cincinnati visits the Cleveland Browns (6-7-1) on Sunday (1 p.m. ET).