Neymar is expected to miss the next 10 weeks following a decision by Paris Saint-Germain and a team of "world-renowned medical experts" to forgo surgery on the Brazilian's injured right foot, the club announced Wednesday.
Although he will play no part in PSG's upcoming last-16 tie against Manchester United, the 26-year-old could make his return for the quarterfinals in April.
"Paris Saint-Germain sends its strongest support and encouragement to Neymar Jr. to overcome this injury, with the courage and determination that the player has always shown," the club said in a statement.
There were serious concerns Neymar would require an operation which would rule him out for the remainder of the campaign and throw his Copa America status into doubt. The club said the player will instead undergo "conservative treatment" on the foot he injured during a Coupe de France match on Jan. 23.
It's the second straight season Neymar has aggravated the fifth metatarsal in his right foot. The initial injury sidelined him for PSG's final 15 matches of the 2017-18 season and forced him to race against time to be fit for the 2018 World Cup.