Chiles arrived at Tennessee from IUPUI as a graduate transfer after averaging 15.8 points per game last season. The 6-foot-1 guard played just three games and scored a total of two points for Tennessee.
Tennessee coach Donnie Tyndall said Chiles aggravated the injury in practice last week.
Tyndall also said that if Jabari McGhee can't return from an injured right foot in three or four weeks, the freshman forward likely would miss the rest of the season and pursue a redshirt.
The injuries to Chiles and McGhee leave Tennessee (8-4) with nine healthy scholarship players entering Wednesday's Southeastern Conference opener at Mississippi State (7-6).