Ward damaged the AC joint in his right shoulder when he crashed to ground under the weight of a Beau McCreery tackle during the Giants' opening-round 32-point win over Collingwood on Saturday.
With 296 games to his name, the inaugural Giant will have to spend six to eight weeks on the sidelines before getting closer to his 300-game milestone.
"We now have a clear understanding of Callan's shoulder injury and whilst he is set for a stint on the sidelines, it's a great result that his injury won't require surgery," Giants medical chief James Rahme said.
"He's a tough and resilient athlete, so I'm sure he will be doing whatever it takes to return as quickly as possible."
Young gun Xavier O'Halloran is expected to fill Ward's shoes as the short-term replacement after a strong performance through the midfield and on the wing against the Magpies.
"Cal's an exceptional player so it's not going to be an easy feat," O'Halloran told AAP.
"I've trained in that role in the preseason so I'll take confidence out of that.
"I'm really excited to hopefully live up to the Ward name. It's quite exciting for me to have that opportunity to prove myself in that role."
Ward was one of four players to sustain major injuries out of opening round.
Powerhouse Brisbane defender Keidean Coleman and Carlton veteran Sam Docherty both ruptured anterior cruciate ligaments while Melbourne's Jake Bowey will miss eight weeks with a broken collarbone.
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