Paul suffered the injury Tuesday during Houston's 122-121 victory over the reigning champion Golden State Warriors at Oracle Arena. He sat out the final four minutes and 47 seconds of the fourth quarter as his team completed its comeback.
He finished with four points, eight rebounds, and 11 assists in 33 minutes of action.
"Dragging his leg a little bit; I had to get him out of there," head coach Mike D'Antoni said afterward, according to ESPN's Tim MacMahon.
Eric Gordon, who had 24 points off the bench versus Golden State, will start Wednesday in Paul's stead.