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The 34-year-old had to be helped off in the 62nd minute of Bayern’s 2-2 draw at Hertha Berlin on Sunday and German media expect the Frenchman to be out for up to three months.
Bayern said Ribery’s affected left knee will be “treated conservatively and rested for several weeks with a splint”.
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That means he will not undergo an operation.
Ribery has already begun rehabilitation but further therapy and training will be decided at a later date depending on the healing process, the Bundesliga champions said.
“We are sorry that Franck has injured himself. We wish him a swift and good recovery,” said Bayern chairman Karl-Heinz Rummenigge.
Earlier, broadcaster Sky had reported that Ribery would be out for between two and three months.
The injury is a particular blow to the Frenchman, who is out of contract at the end of the season, and Bayern, who are already without captain and goalkeeper Manuel Neuer until January with a fractured foot.
For the second league match running, Bayern threw away a 2-0 as goals from Mats Hummels and Robert Lewandowski were cancelled out by Hertha’s Ondrej Duda and Salomon Kalou.
It left the Bavarian giants five points off leaders Borussia Dortmund.
Caretaker coach Willy Sagnol was in charge after Carlo Ancelotti was sacked on Thursday in the wake of the 3-0 Champions League drubbing at Paris Saint-Germain.
Ex-Dortmund coach Thomas Tuchel and Hoffenheim handler Julian Nagelsmann are among the favourites to succeed Ancelotti.
