Davies, recently back from an extended period out with a shoulder injury, hobbled out of Tuesday night's 1-0 victory over Peterborough at the Reebok Stadium after twisting his knee and scans have confirmed damage to his anterior cruciate ligament.
Stuart Holden replaced Davies in the first half, completing his longest period of first-team action since recovering from almost two years of severe knee problems, and the USA international may come into contention for a first start since Wanderers' 2-0 League Cup win at Aston Villa in September 2011.
Attacking midfielder Chris Eagles missed out in midweek with illness and full-back Tyrone Mears has a blood infection, with the pair to both be assessed by boss Dougie Freedman.
Kevin Davies and Craig Davies could push for starts in attack having replaced David Ngog and Marvin Sordell after half-time on Tuesday, as Bolton look to build on a five-match unbeaten run that has brought them to within seven points of the npower Championship play-off places.
Defender Matt Mills (thigh) is available again after a spell on the sidelines but midfielder Keith Andrews (Achilles/thigh) remains injured.