Farmar played just 56 seconds against the Portland Trail Blazers on Sunday night before asking to be pulled from the game. An MRI on Monday revealed the tear.
Leading up to the Lakers' loss Sunday (114-108), Farmar was shooting the ball extremely well off the bench, shooting 58.3% from the field over his previous five games, averaging 14.6 points and 5.0 assists.
The Lakers are already short a point guard with Steve Nash struggling to work his way to health with back, nerve and hamstring issues.
Against the Blazers, Xavier Henry and Jodie Meeks helped man the position successfully when Blake was on the bench. Henry finished with 27 points on 9-12 shooting, although he only recorded a single assist.
Blake played 33 1/2 minutes, scoring 13 points with nine assists.
Nash's status could prompt the Lakers to seek a short-term solution. Both Darius Morris and Chris Duhon are available free agents, with experience playing for Coach Mike D'Antoni with the Lakers last season.
Pau Gasol also underwent an MRI on Monday, confirming his mildly sprained right ankle is just that -- technically good news.
The status of Kobe Bryant (Achilles) remains unclear but he could be available to play by Friday as well.
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