The Spanish forward injured his hamstring in the goalless draw at home to Manchester City on Saturday and is unlikely to be involved again this campaign.
"It's not very serious but it is a hamstring so it will probably be goodbye for this season," Laudrup told Sky Sports.
"There are only two weeks left but I think his season is over."
Michu has scored 39 per cent of Swansea's Premier League goals this season - a greater share than any other player in the top flight.
Laudrup has admitted that adding to Swansea's attacking options has already been identified as a priority in the summer.
"I don't want to name any names right now but I don't think you have to be a rocket scientist to know what we could need," added the Swans boss.
"We have been working on this for the last couple of months but we still have to finish this season first."