Zuffa
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Hughes suffered the injuries during his UFC 85 loss to Thiago Alves earlier this month.
It is unclear how the injuries will affect his next likely match, against rival Matt Serra.
The match was originally scheduled for last December's UFC 79, but was scrapped when Serra suffered a herniated disc during training. Georges St. Pierre stepped in to replace Serra and defeated Hughes for the interim championship.
After Serra lost his rematch with George St. Pierre in Montreal earlier this year, it was expected that Serra and Hughes would finally meet, but first, Hughes took the match with Alves on short notice to add starpower to an injury decimated event.
Alves won via second-round TKO, and it appeared Hughes injured his leg in the final moments of the bout.
"They really think that the PCL will repair itself and that MCL has a chance of repairing itself. So we’re going to hold off on surgery right now," Hughes wrote on his blog, adding that he would be getting a second opinion soon.
Some believe that the fight with Serra will be Hughes' swan-song in the octagon, although he's given no public hints at retirement.
The 34-year-old is one of the most decorated MMA fighters in history, holding a 43-7 record. The two-time welterweight champion once held the belt for a 26-month stretch between November 2001 and January 2004.
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