Wood rolled the ankle during the third quarter of Thursday’s 115-103 win over the Memphis Grizzlies.
The Rockets had expressed worry about the injury after the game, with coach Stephen Silas saying: “It didn’t look great. It was unfortunate.”
Wood, who has emerged as an All-Star candidate by averaging 22.0 points and 10.2 rebounds per game in his first season with the Rockets, missed three games after spraining his right ankle on Jan. 20.
Wood reinjured the ankle while driving down the lane in transition against the Grizzlies. He landed awkwardly as he split Memphis defenders Dillon Brooks and Ja Morant, immediately going down in obvious pain.
After getting back to his feet, Wood slowly limped off the floor during the ensuing timeout. He returned to the court to attempt the free throws from a foul called on Morant, but John Wall and other teammates talked Wood into leaving the game. He limped off the floor with the assistance of teammates and was taken to the locker room in a wheelchair.