The Honduras international was forced off with the problem during the Latics' 2-2 draw with Tottenham Hotspur in the Premier League on Saturday.
"The initial reaction is that Figueroa should be out for the season," Wigan boss Roberto Martinez is quoted as saying by ITV Sport.
"We need to see the extent of the problem, but he is on crutches at the moment. We will assess him."
Wigan take on Manchester City in the FA Cup final at Wembley Stadium on May 11.