Schaub suffered a major right foot injury and is out for at least the next game, if not much longer.
Schaub will meet with specialists this week.
"He's got a significant foot injury, he's going to miss some time," Texans coach Gary Kubiak said in remarks distributed by the team. "But we're going to do everything we can to get it evaluated correctly and see if can get him back on the football field. It's disappointing, but we'll go to work and try to do the right thing by Matt."
It's a big setback for the Texans (7-3), who have won four consecutive games.
The Texans will go with Matt Leinart starting Nov. 27 against the Jacksonville Jaguars.
Leinart is a former Arizona Cardinals first-round draft pick who has been unable to replicate his college success at USC in the NFL.
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Source: Schaub not definitely out for season
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