Waller, who has been ruled out since experiencing a strained left hamstring in the Raiders' Week 5 loss to the Kansas City Chiefs, will now miss at least four additional games in adherence with league rules.
"Waller aggravated his hamstring injury and the team believes this will give him four weeks to get it healthy and come back to finish the season," Schefter tweeted.
The former Pro Bowl selection played only eight snaps before being sidelined and has since missed three consecutive games.
Waller will be eligible to return for the Raiders' December 8 matchup against the Los Angeles Rams.
"It's not like I'm doing anything to keep myself off the field willingly," Waller said via ESPN, acknowledging having recently tested his hamstring during drills. "I'm doing everything that I can. It just may not be happening in the timetable that I'd like for that to happen."
Waller currently has 16 receptions for 175 yards and one touchdown in 2022, having recorded a franchise-record 107 catches for 1,196 yards and nine touchdowns in 2020.
The 30-year-old signed a three-year, $51 million extension prior to the 2022 NFL season.