The right-back was ruled out of Sweden's World Cup qualifier against Germany on Tuesday due to a hip injury he suffered in the previous match against Austria last Friday.
Lennon said: "We have two very good right-backs who may not be fit (for Ajax). We know Adam is going to be out for three months.
"Mikael's hip locked against Austria. He is a doubt for the weekend but we are very hopeful he will be fit for Ajax on Tuesday.
"But we have to nurse Mikael, he does have hip and groin problems and we do have to manage him during the week.
"But he is a serious doubt for the weekend so we will have to rethink things regarding Hibs.
"It will be a gamble against Ajax if Mikael does make it (for Hibs) and it might not be a gamble worth taking, obviously.
"Efe Ambrose had played international football at right-back so he is a possibility, we have Darnell Fisher or I might change the formation.
"I will have a think about it in the next couple of days."
Dutch winger Derk Boerrigter is still struggling with an ankle complaint and is unlikely to be back for next week's game against his former club.
However, midfielders Joe Ledley and Tom Rogic are back from their respective groin injuries and James Forrest is expected to be fit again after a combination
of sciatica and a virus kept him out of Scotland's final World Cup qualifier against Croatia at Hampden Park on Tuesday night.
Lennon added: "Joe is due to start training on Friday, as is Tom Rogic.
"Tom had an injection in the groin area before the international break so has been doing some physical work this week after a rest last week, so I'm hoping he will join us on Friday.
"James Forrest has had a 10-day rehab so we are hoping he will be up and at it for the weekend.
"So the squad is starting to take a little bit more shape again.
"Boerrigter will take another week or so, he has a bit of soreness in the (ankle) bone and it can take a considerable period of time to heal properly.
"But we are hoping in a week to 10 days he will be able to join the rest of the players."