“He bowled through a fair bit of pain during the game (last week against the Mumbai Indians),” Simon Katich, Kolkata Knight Riders assistant coach, told reporters on Monday.
Fellow Australian Katich said Hastings flew back to Australia after undergoing scans on his ankle.
“It’s a shame to see his campaign end prematurely. He had fitted in really well into the group and had performed well in a couple of games.
“Unfortunately he’ll be doing a lot of rehab instead and working towards getting fit for the West Indies tour,” Katich said.
Hastings has been named in the Australian one-day squad for the tri-series in West Indies in June.
The 30-year-old fast bowler and strong lower-order batsman has played just one Test for Australia, but he has slowly gained a footing in the limited-overs team since making his ODI debut in 2010.
He has played 20 ODIs and was also part of the Australian side in the recent World Twenty20 in India.