When asked by the Toronto Sun if he might play before the Olympic break, he said, "probably not."
Bolland, 27, is in the final year of a five-year, $18.875 million contract he signed with the Chicago Blackhawks and is scheduled to become an unrestricted free agent July 1.
According to the Sun, the Leafs and Bolland have yet to initiate contract talks.
The paper suggests that if Leafs management believes they're unable to sign Bolland to an extension, they could trade him before the March 5 trade deadline.
Bolland, who grew up just outside of Toronto, has enjoyed his time with the Leafs, thus far, although his ice time has obviously been limited due to his injury.
He is due for a raise over the $3.375 million he's earned annually on his current deal, and with 12 players locked up to contracts next season, the Leafs have plenty of salary cap space to accommodate a pay increase.
In addition to Bolland, Leafs forwards Nikolai Kulemin, Jay McClement, Mason Raymond, Troy Bodie, Jerred Smithson and Trevor Smith, and defenseman Paul Ranger, are set to become unrestricted free agents this summer.