Shepard (knee) was placed on injured reserve Wednesday, Field Yates of ESPN reports.
Shepard made a full recovery from the Achilles tear he suffered last December and was the most reliable target for quarterback Daniel Jones early this season, but the veteran suffered an ACL tear late in the Giants' Week 3 loss to Dallas. He'll now spend the rest of the season and perhaps a small portion of next season recovery from knee surgery. Shepard is set to turn 30 years old in February and is scheduled to become an unrestricted free agent during the offseason.