Neale felt a "pop" during Brisbane's grand final thumping of Sydney last Saturday and scans this week have revealed he tore the plantar fascia in his troublesome left foot.
But the dual Brownlow medallist will not require an operation, instead spending up to six weeks in a protective boot before working his way back into training.
"A conservative approach will be taken," the club said in a statement on Wednesday.
"The scan results were positive news for Neale and the Lions, given this injury is generally a 12-week return to play.
"Neale's recovery will include four to six weeks of non-weight bearing and wearing a moon boot.
"The Lions will then review Neale's progress before looking to have him back running between six and eight weeks.
"The club expect Neale to be running when pre-season returns in November and then progress into full training after the Christmas break."
Lachie Neale hobbles into the Lion's Mad Monday event in Brisbane, with premiership medal in tow. (Darren England/AAP PHOTOS)
Brisbane co-captain Neale starred in the premiership despite having to manage what the club has described as a "heel issue" for more than two months during the back half of the campaign.
The 31-year-old was a narrow runner-up to teammate Will Ashcroft for the Norm Smith Medal, voted second-best afield for his 34-disposal effort against the Swans.
Neale, who won the Brownlow Medal in 2020 and 2023, shapes a crucial contributor in the Lions' bid to defend their flag in 2025.
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