Rice was substituted at half-time with pain in his back, as the Gunners drew 2-2 with Tottenham in the north London derby.
The former West Ham midfielder is set to undergo tests to find out the severity of his injury.
It remains to be seen the extent of the problem and whether or not he will be sidelined for a long period of time.
Though Arsenal medics remain optimistic the 24-year-old will not be spending a lengthy spell on the treatment table, according to the Daily Mail.
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Mikel Arteta's side then face Bournemouth in the Premier League on Saturday, before going head-to-head with Lens in the Champions League on October 3.
It's hoped Rice will be fit for Arsenal's clash Pep Guardiola's Man City on October 8.
Arsenal are set to welcome back Leandro Trossard and Gabriel Martinelli following hamstring injuries, and both may also feature against the champions.