Burnley striker Paterson could return in less than a month
However, wide man Junior Stanislas faces up to eight weeks out with a similar injury.
Howe insisted: “It is particularly encouraging news for Martin.
“It was always a positive that the injury was not thigh-related and hopefully he could only be out for four weeks.
“Junior is expected to be a little longer than that, but we know both players are in good hands with our physio team and we look forward to welcoming them back sooner, rather than later.”