Davidson injured her left knee during the dying stages of the third quarter of Saturday night's thrilling 6.2 (38) to 5.4 (34) preliminary final victory over Geelong.
Davidson, who booted two of the Lions' six goals, was captured looking inconsolable on the bench immediately after the injury and will undergo scans to determine the damage.
The Lions' leading goal-kicker, who is ranked equal third in the league this season, failed to take part in the final term.
But Brisbane football boss Breeanna Brock and Lions coach Craig Starcevich were both more positive about the 24-year-old's prospects when speaking post-game.
"(Davidson's) in good spirits, walking around OK," Starcevich told reporters.
"She was actually jogging out to the group, a little bit proppy, but we'll just have to wait and see what comes of it.
"She's a big part of what we do.
"If she's there, she's there. But if she's not, we just find a way to restructure and come up with a combo that works."
Star defender Shannon Campbell, who won the best-on-ground medal in last year's losing grand final, swung forward in the final quarter in Davidson's absence.
Campbell slotted the winning goal, allowing the Lions to reclaim, and keep, the lead after Geelong got in front and threatened to cause a massive upset.
The 27-year-old will play a key role, particularly if Davidson doesn't play, in the Lions' hopes of winning a second AFLW premiership.
Defender Shannon Campbell pushed forward in the final quarter after Davidson went off. (Jason O'BRIEN/AAP PHOTOS)
Brisbane will meet the winner of Sunday's preliminary final between North Melbourne and Adelaide in the decider as they look to make amends for last year's heartbreaking grand final defeat to Melbourne.
The Lions have qualified for five of the seven grand finals in the competition's history, with the 2020 season cancelled early due to the COVID-19 pandemic.
Starcevich praised the resilience of the Lions, who lost All-Australians Emily Bates, Jesse Wardlaw and Greta Bodey to expansion clubs during the off-season.
"Just their grit and fight to be able to hang in there and keep pushing to the finish line. That bit just makes us immensely proud," he said.
"If you're Brisbane Lions supporter, you should be sitting back looking at this team just going 'wow, we love you, guys.
"We certainly do as a coaching group, they're amazing."
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