The former Brazil international pulled a groin muscle in Sunday's 2-1 home defeat by PAOK Salonika and has been left out of the 20-man squad for Wednesday's Group F game.
Also missing is left-back Grigoris Georgatos who sprained an ankle in the same game. Defender Michalis Kapsis has been included in the squad despite picking up an ankle injury.
Olympiakos have lost their first two group games to Rosenborg Trondheim and Real Madrid and are looking to secure their first away win in 27 Champions League games.