Malceski sustained the injury after attempting to evade a tackle by Hawk Cyril Rioli in the third quarter and was helped from the ground by trainers.
Malceski is expected to miss the entire 2008 season as a result of this.
"Obviously it's disappointing for him and it's emotional," Swans coach Paul Roos said.
"You spend the whole pre-season training and you do it, but, yeah, it looks like he'll be out for a little while."
