The Uruguay forward, who picked up the injury during his side's 2-0 win over Bordeaux, is expected to be sidelined for several weeks.
PSG manager Laurent Blanc has also confirmed that Cavani will be absent for Tuesday's Coupe de la Ligue fixture against Nantes, but insists that his injury is not serious.
"Cavani has been ruled out against Nantes and will also be absent for Monaco," Blanc told reporters.
"His injury will be a matter of weeks. It is not uncommon for a player with his style of play [to pick up these problems].
"This is not a serious injury, but in order to prevent it getting worse, we will not take risks with Cavani."
Cavani has scored scored 20 goals in 30 appearances for PSG this season.