Mackenzie left Wednesday morning training early and scans later confirmed the injury, which the Hawks said is low-grade.
It is unclear whether he will be available if Hawthorn win through to next week's semi-finals.
The 20-year-old has played 20 games this season.
Before training, coach Sam Mitchell said they were looking at three potential changes.
Defender Changkuoth Jiath is in the mix after returning from injury in the VFL last week.
While the likelihood before Mackenzie's injury is that they would have been unchanged, Mitchell said they had plenty to ponder at match committee.
"Maybe 20 players will be locked in ... there are probably still three that we're considering, how to go," Mitchell said before Wednesday morning's training.
"A little bit of it might play to the weather, a little bit of it might be some matchups, a little bit of training."
Wednesday was also the 20th anniversary of the most recent finals win for arch-rivals Essendon, a stark contrast to Hawthorn's ongoing success.
Mitchell made it clear his club remains hell-bent on winning their 14th flag.
Friday night's match marks their first September action since 2018 and regardless of the result it is impressive given Hawthorn made a 0-5 start to the season.
The Hawks have had their own challenges over the last few years, including the messy coaching transition from Alastair Clarkson to Mitchell and unresolved racism allegations that appear destined for the courtroom.
Mitchell laughed when asked before training what Hawthorn have that the Bombers, Fremantle and St Kilda wish they had.
"I'm far away from getting involved in that," he said.
"I would say that Hawthorn has historically been a successful (club) - a lot of documentation, we've won a premiership in every decade since the 60s.
"It set the bar high ... it's a club that's built off premierships, not off finals.
"Every club is a little bit different in what they call success, but certainly for this club, if we don't win the grand final this year, we're not going to sit back and say 'what a success that was'.
"We want to continue that legacy."
Mitchell said much of the credit for Hawthorn's turnaround this season must go to the players.
"When you have a group of players who are willing to take the reins themselves, that makes a coach's job really easy," he said.
"It certainly wasn't me coming up with 'Hokball' - I'm still not exactly sure what they means."
Asked when they first started thinking about playing in the finals, Mitchell deadpanned "2022 I suppose" - when he took over as coach.
"We haven't proven we can win a grand final ... but that's the aim and it has been the aim since I started (as coach)," he said.
"We've been really clear about that, how quickly we could get there. No speed limit."
The Hawks confirmed earlier this week Will Day is no chance as he recovers from a collarbone injury.
Should they beat the Bulldogs, Mitchell said they would also make a quick call on whether Day is available for their semi-final.
Also on Wednesday, the Hawks announced veterans Jack Gunston and Luke Breust would play again next season.
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