Russell had been a stand out performer for Gautam Gambhir and his boys this season both with the bat as well as the ball.
The West Indian amassed 188 runs from 12 matches and also claimed 15 wickets.
However, as the tournament reached its business end, Russell had to miss the last three games because of a leg injury.
The 28-year-old limped off the field midway through the match against Royal Challengers Bangalore on Monday with a suspected injury to his left leg.
In their last three games of the tournament, KKR suffered a six-wicket loss to Gujarat Lions, followed by a 22-run win over SRH. But when it mattered the most, SRH lifted their performance and knocked KKR out of the tournament.
Had Russell been fully fit, there were chances of KKR finishing in the top two teams in the points table, which would have given them a second chance to book their berth for the final.