The all-action midfielder picked up the problem in the first half of Saturday's keenly-contested London derby draw against Fulham in the Barclays Premiership.
Starting in central midfield alongside Tom Huddlestone, Teemu was forced out of the action after just 26 minutes at Craven Cottage when he was replaced by Didier Zokora.
Martin confirmed on Monday afternoon: "Teemu has an ankle sprain and it's likely he'll be out for 10 days."
Martin also said that Ledley King had suffered a slight setback in his recovery from a bruised foot but insisted the skipper could still be in the squad for Saturday's FA Cup fourth round tie against Southend United at the Lane.
We'll have team news in full tomorrow...
Martin Jol has reported that Teemu Tainio is out of the Carling Cup semi-final, first leg against Arsenal at the Lane on Wednesday night with an ankle injury.