Lloris required lengthy treatment after colliding Lukaku during the second half of the Barclays Premier League clash at Goodison Park.
Substitute Brad Friedel looked ready to come on as Lloris was eventually led off the field but the Frenchman appeared to argue for the right to play on.
Martinez said: "We were glad to see Hugo Lloris back on his feet.
"It was a strong incident, nothing malicious, two brave players fighting for the ball.
"Romelu did nothing wrong and he picked up a strong knock on his thigh and he had to come off as a consequence.
"I was really disappointed to see Romelu punished with a yellow card in what was an honest challenge, both players trying to get the ball."
- Sports & Recreation
- Brad Friedel