The 20-year-old remains hopeful of returning to action for the Crows' AFL premiership season opener against St Kilda on March 16.
Michalanney, who has missed just one premiership game in his two seasons since being drafted, damaged thumb ligaments in Adelaide's internal trial in Port Pirie last Friday.
"It was one of those unfortunate incidents but thankfully after seeing a specialist on Monday, Max will make a full recovery and does not require surgery," Adelaide's high-performance manager Darren Burgess said in a statement on Tuesday.
"We anticipate he will miss two-four weeks, which means he won't play against Port Adelaide on Friday night or Brisbane the following week, but will aim to be available for round one against St Kilda.
"The nature of this injury means he will continue to train as per normal and maintain the strong fitness base he's built over summer."
Meanwhile, Adelaide's home-town rivals Port Adelaide have given their last remaining list spot for the looming season to Singapore-born Josh Lai.
The 19-year-old midfielder spent the first few years of his life growing up in China before moving to Melbourne aged six.
Lai has been training with Port since December after being spotted by Power scouts playing for Cheltenham in Melbourne's Southern League.
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