Wentz was diagnosed with a fractured verterbra in his back Thursday and is not expected to play for the Eagles (6-7) in Sunday's matchup against the NFC West champion Rams.
According to multiple media reports, Wentz will not need surgery and the team is gathering information to see if the quarterback would risk further injury by continuing to play.
He could miss the remainder of the season.
Head coach Doug Pederson described Wentz's status on Wednesday as day-to-day, but an MRI exam on Thursday revealed the severity of the injury.
Although Wentz was listed on the injury report with back soreness during Weeks 7 and 8, Pederson on Wednesday said the 25-year-old did not add to the issue during Sunday's 29-23 overtime loss to the Dallas Cowboys.
If Wentz does not play, the Eagles will go with Nick Foles, who led the Eagles to a Super Bowl victory last season. His chief target figures to be tight end Zach Ertz, who is third in the NFL with 98 receptions.
The Eagles have virtually no room for error as they try to win their final three games to give themselves a shot at a playoff berth.
"We're going to keep this thing together and try to do something special," said Eagles rookie running back Josh Adams.
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