The former England midfielder fell awkwardly after going into a tackle and was unable to participate any further in QPR's 4-0 loss at home to Bolton Wanderers.
Initial reports suggested that Dyer may have broken his metatarsal but Rs manager Neil Warnock has moved to deny those suggestions.
"We thought he had broken his metatarsal, but the x-rays showed no break, although he got a nasty stud on the top of his foot," said Warnock.
"Hopefully it is not too bad and he might be back in a few days. We'll just have to wait and see."
Dyer joined the Loftus Road-based club this summer on a free transfer after his West Ham United contract expired.