The Falcons placed Williams (knee) on injured reserve Friday, Scott Bair of the team's official site reports.
Williams has suffered an ACL injury and is expected to miss the 2023 campaign.
Williams finished the 2022 campaign with 22 rushing attempts for 109 yards and a touchdown across 17 appearances. He also caught 13 of 14 targets for 61 yards and complied 605 return yards.
Williams (foot) logged a full practice Friday, Ashton Edmunds of the Falcons' official site reports.
Williams (foot) will not return Sunday against the Cardinals, Josh Kendall of The Athletic reports.
Williams logged three carries for 16 yards and reeled in all two targets for 14 yards during Saturday's 17-9 loss versus the Ravens.
Williams had zero carries but caught both of targets for 10 yards during Sunday's 21-18 loss to the Saints.
Williams rushed four times for 25 yards in Thursday's 25-15 loss to the Panthers.
Williams had zero rushing attempts but reeled in his only target for two yards during Sunday's 20-17 loss versus the Chargers.
Williams had zero carries but reeled both of his targets for seven yards during Sunday's 37-34 overtime win over the Panthers.