"Vince Carter received some welcome news on the injury front Tuesday.
An MRI on his injured left knee revealed no significant structural damage, an Orlando Magic spokesman said.
Carter might play when the Magic host the Miami Heat on Wednesday. He will be a gametime decision.
The 33-year-old shooting guard sustained the injury Monday, midway through the fourth quarter of the Magic's 106-97 loss to the San Antonio Spurs.
Carter made a gorgeous spin move and converted a layup on the play, but he landed awkwardly on his left foot. He didn't return to the game.
"When I made the spin move and went up for the layup, as I landed, I just felt some sharp pain go through my knee, under the kneecap more so than anything," he told the Orlando Sentinel after the Spurs game ended. "I just wasn't sure. I just wanted to go to the back and try to run it off and I couldn't. I couldn't get any push off on it.
Early foul trouble and the knee sprain limited Carter to 16 minutes, 55 seconds of playing time.
He scored eight points on 2-of-6 shooting.
"I think in games like this, too, quite honestly, we're going to need him for more than 14 minutes to be able to play," coach Stan Van Gundy said.
Carter had a forgettable game when the Magic played the Heat on Oct. 29.
He played 13 minutes, 37 seconds.
He was limited in part because he hurt his back and banged the back of his head when a Miami player fell on him. Carter finished the game with four points on 1-of-5 shooting."