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Lacazette, having put Lyon 2-1 ahead at Dijon on Saturday, had to be replaced at half-time, with Bruno Genesio's side going on to lose 4-2.
The France international has scored 63 goals in the past three Ligue 1 seasons and has begun 2016-17 in stunning fashion, Saturday's effort adding to a hat-trick against Nancy and a brace versus Caen.
The 25-year-old has reportedly attracted the attention of Arsenal and West Ham during the transfer window, whose interest may be piqued with news that his injury has proved only a minor one.
"Alexandre Lacazette had various radiological examinations which revealed no injury to his knee hit on Saturday in Dijon, or to the ligament or meniscus," a Lyon statement read.
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"The attacker will observe a few days off. A reassessment of the situation will be made next Monday; depending on the results Alexandre could resume training on Tuesday, September 6th."
Lyon also confirmed that Nabil Fekir, who set up Lacazette's goal at Dijon, had undergone a small operation to remove some debris in the meniscus of his right knee.
Fekir is expected to return to the squad in three weeks.