Chandler was injured in the second half of Tuesday's win over Detroit. An immediate X-ray came back negative, but an MRI on Wednesday showed the stress reaction.
It's another setback for the injury-plagued Chandler, who had foot and ankle surgery at the end of last season before he was traded by New Orleans to Charlotte for center Emeka Okafor.
Chandler has struggled this season and is averaging just 6.6 points and 7.0 rebounds.
Nazr Mohammed is expected to start in Chandler's spot. The Bobcats are off until Saturday when they visit Oklahoma City. They host Milwaukee on Monday.