He is expected to miss six weeks, the team announced on Thursday.
"You hate it for Kobe, he's worked so hard getting back," Lakers coach Mike D'Antoni said on Thursday. "He was coming on. His shot percentage kept getting better and his turnovers kept getting less."
Bryant was injured in Tuesday night's win over Memphis, in which he scored 21 points and said he suffered a hyperextended knee.
"Obviously when he came back and played, we thought everything was OK," said D'Antoni. "It might be a little hyperextension, but we thought he was good."
Bryant missed the Lakers' first 19 games of the season and is averaging 13.8 points and 6.3 assists per game.
While Bryant will be out six weeks, Steve Blake (elbow) is still missing in action for another five weeks, Steve Nash (back) is sitting for at least another month and Jordan Farmar (hamstring) could return in a week.
D'Antoni will be working with a roster without a true point guard.
"We're going to draw straws, I don't think any of them want to," the coach said.
For the time being, Xavier Henry, a 6-foot-6 guard signed over the summer, will run point for the Lakers.
"It is what it is, I hate to use that cliché," D'Antoni said. "We have enough guys here to win -- that's another cliché. We're going to have close ranks -- that's another cliché. I can throw them all at you."
"We just have to do it. We're going to play hard. We have enough guys out there, enough talent that we're going to be fine."