Head coach Paul Maurice confirmed Thursday that Little has a vertebral compression fracture.
Little was injured in a 6-5 shootout loss to Tampa Bay on Feb. 18 after taking an open-ice hit from defenceman Anton Stralman.
Little, a 28-year-old Edmonton native, has 42 points (17 goals, 25 assists) in 57 games this season.
He has 385 points (163-222) in 613 career NHL regular-season games.
The Jets have recalled Matt Halischuk from the AHL's Manitoba Moose.