Evans suffered the injury during a 61-yard touchdown catch in the first quarter of Tampa Bay's 38-35 victory against the Indianapolis Colts.
Buccaneers head coach Bruce Arians said postgame Sunday that he would have been "shocked" if Evans played again this season.
Evans made history this season by joining Randy Moss as the only other wideout to start their career with six straight 1,000-yard seasons.
Tampa Bay has been eliminated from the playoff race despite winning three straight games to pull its record to 6-7.
Breakout star Chris Godwin will be Jameis Winston's top target for the team's remaining games, which will come against the Detroit Lions, Houston Texans, and Atlanta Falcons. Godwin has racked up 81 catches for 1,212 and nine touchdowns.