Ravens head coach John Harbaugh confirmed the injury Wednesday before placing Woodhead on injured reserve on Thursday, per NFL Network's Ian Rapoport. Rapoport added Jeremy Langford was promoted from the practice squad.
On Tuesday, Rapoport reported the expectation is Woodhead will be out four to six weeks.
Woodhead was injured on the last play of Baltimore's opening drive against the Cincinnati Bengals in Week 1. He fell to the ground while grabbing his leg and was helped off the field.
"We'll see," Woodhead said about the injury, via ESPN's Jamison Hensley. "It's one of those things ... we'll wait until we get back."
Injuries have become a problem for Woodhead, especially since the start of the 2016 season. He played in just two games for the San Diego Chargers last year before tearing his ACL against the Jacksonville Jaguars.
After signing with the Ravens in the offseason, Woodhead missed the team's final two preseason games with a hamstring injury.
The Ravens still have Terrance West as their starter at running back, and third-year player Javorius Allen moved up on the depth chart as the No. 2 back.