Lloris has missed Tottenham's last two matches after being withdrawn at half time in their recent 6-1 defeat at Newcastle United.
The former France captain had only just returned from a knee injury layoff that saw him miss nine matches at the start of February.
It remains to be seen whether Lloris will play again for Spurs as he enters the final year of his contract.
The 36-year-old has been the number one goalkeeper at Spurs since joining from Olympique Lyon in the summer of 2012.
“Hugo’s out for the season,” Spurs’ acting head coach Ryan Mason confirmed ahead of Saturday’s visit of Crystal Palace.
“We had the results back. Obviously disappointing, but we kind of feared that initially. We did some more tests and he won’t play for us again this season.
“I can’t speak about next season but what I can say is that he has a very important role for us until the end of the season. We need him. We need him to be part of the group and I’m sure he will be.”
Mason also provided updates Yves Bissouma, Emerson Royal and Ryan Sessegnon, who have been spending time on the treatment table.
On Bissouma, Mason said: “There are obviously some hurdles he has got to overcome and to hit some certain goals but we are hopeful he will appear before the end of the season.
“Ryan had a significant injury, he’s been out for a long time so Ryan won’t feature again this season.
“Emerson, I think it is a day-to-day check on how he is and how he’s coping. Hopefully Emerson can help us between now and end of the season.”
