The midfielder, 31, sustained the injury in a challenge on Sheffield United's Leon Clarke.
Bolton manager Phil Parkinson told the club website: "It's a blow for both him and us, but it's also a chance for someone else to step up."
Bolton went on to win their first League One game 1-0, with Jay Spearing scoring the only goal.
Bolton captain Darren Pratley is set to miss eight to 10 weeks after fracturing a bone in his lower leg on Saturday.