Andrew Bogut has been ruled out of the NBA Finals and is in danger of not being able to play for Australia at the Rio Olympics.

The Golden State Warriors announced their Australian centre will need "six to eight weeks" to recover from the knee injury he suffered in game five against the Cleveland Cavaliers on Tuesday.

The Olympics begin on August 5.

Bogut was set to spearhead Australia's best-ever credentialed basketball squad in Rio, with high hopes of winning the team's first Olympic medal.

The biggest positive to come out of the Bogut's diagnosis is that he will not need surgery and is expected to make a full recovery.

The Warriors announced in a statement that Bogut had undergone an MRI on Wednesday that revealed the impact injury he suffered during the game had resulted in bone bruises to the proximal tibia and distal femur.

"He travelled with the team to Cleveland for game six, but due to the remaining length of the NBA Finals and expected recovery time, a minimum of six to eight weeks, he will miss the remainder of the series," the team said.

"The injury will not require surgery and he is expected to make a full recovery."

Game six of the finals will be played in Cleveland on Friday.

The Warriors can clinch back-to-back titles if they win, but if the Cavaliers are victorious the championship will be decided with a game seven in Oakland on Monday.