Jack Grealish, who was on a season-long loan at Everton from Manchester City, suffered the injury on 18 January during a 1-0 win over former club Aston Villa.
The 30-year-old midfielder had made 22 appearances in all competitions for Everton this season, scoring twice and providing six assists.
"Didn't want the season to end like this but that's football, gutted," he wrote in a post on Instagram.
"Surgery done and now all focus on getting back fit. I know for sure I will come back fitter, stronger and better than before."
The injury ends any hopes of Grealish making England's World Cup squad this summer.
Grealish's recent form at Everton led to suggestions that he could earn a recall to the England squad and push for a place at the World Cup.
His most recent appearance came under caretaker manager Lee Carsley in October 2024.
Grealish won three Premier League titles, the Champions League and the FA Cup after joining City from Aston Villa for a then British record £100m in 2021.
However, he fell out of favour last season, making only seven league starts for City before being left out of the squad for the Club World Cup in the United States. He since signed for Everton on loan.
"The support I've had since coming to this unbelievable club has meant the world to me," he added.
"The staff, my teammates and especially the fans have been incredible and I absolutely love representing this club. I'll be backing the lads all the way and doing everything I can to get back as soon as possible. Thank you again for all the love, it means so much."
