The 24-year-old suffered ankle ligament damage in Hannover’s Bundesliga clash with Wolfsburg on Wednesday night.
Diouf said: “I am very disappointed with the injury after scoring my sixth goal of the season against Wolfsburg.
“I was not expecting an injury, so I am devastated, because I was having a run in the team, week in, week out.
“Hopefully I will be ready for next season and decide what to do.
“I’ve loved it here, the team has a good spirit and I was getting on with my team-mates.”
Hannover boss Mirko Slomka told BILD: “Mama being out for the season is a serious blow.
“It is very tough as he is an important striker for us. We should not complain however as we have four matches left.
“All we should focus on is the next four fixtures.”