The England international suffered the injury against Liverpool on Saturday with manager Roberto Martinez admitting that he could be set for a lengthy spell on the sidelines
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Baines had played the entirety of Everton's Premier League season before being withdrawn, while also being an ever-present in the top flight during the last campaign.
Manager Roberto Martinez told the club's official website: "It has been confirmed that Leighton has got a fracture in one of the bones in his right foot, which is the phalange.
"We need to treat that now and see how it develops. It could mean anything from missing six weeks to being back in 10 days because it depends how the fracture heals.
"It is in such a specific spot and we are going to see how it [the injury] reacts.
"Obviously Gareth slotted in during the game and when you have got a player with that experience, he can play anywhere. I thought he did really well.
"We have got other players at the football club who can play in that position, from Bryan Oviedo to Tony Hibbert and Sylvain Distin to John Stones. We have got many, many options.
"It's going to be a matter of seeing how the players react in training and, first of all, seeing if Leighton is going to be OK."