Bayern said Lewandowski "is not available" for Tuesday's second-leg in Paris. The holders need to overturn a 3-2 defeat after PSG striker Kylian Mbappe scored twice in Munich during last week's first leg.
Lewandowski, 32, voted FIFA's best male player of 2020, injured ligaments in his right knee a fortnight ago while on international duty with Poland.
Bayern's medical staff had predicted he would be out for four week, but the striker took part in running drills on Monday as Bayern trained during a snowfall in Munich.
Lewandowski has scored 35 league goals this season, leaving him just five short of Gerd Mueller's all-time Bundesliga record set in 1971/72.