The midfielder was stretchered from the field on Saturday night, sparking fears he could miss the tournament in Brazil this summer
The France international was felled by Marvin Martin in the first half of the Ligue 1 champions' 3-1 victory, with the midfielder shown a red card for the tackle.
The incident sparked fears Cabaye could be ruled out of the tournament this summer, but Blanc was quick to allay those concerns.
"Reassuring news for Yohan Cabaye," he said. "Examinations revealed nothing very serious. Just a very swollen ankle."
Victory saw PSG (86 points) surpass Lyon's record of 84 points in a Ligue 1 season and Blanc revealed his delight at having achieved the milestone.
"It is a very very big satisfaction to beat the all-time record of 84 points in the league," he added. "Even at 10 against 11 they (Lille) didn't let their performance drop. They gave a good match, a good show."