The 33-year-old has been hampered by the injury for the past few months and has now decided to go under the knife to resolve it.
Palmer lost his place in the England Elite Player Squad to Wasps team-mate Joe Launchbury earlier this month.
He has been selected for Saxons duty, but will now be unavailable for all matches over the next two months, ruling out a recall to the senior England squad during the RBS Six Nations Championship.
Meanwhile, Wasps have also confirmed that Paul Emerick suffered a leg injury when on international duty with the USA recently. He too requires surgery and will be out for some months.
Gilbert has released a new line of rugby cleats. The Gilbert Virtuo 8S is part of the exciting new product. Check it out.
The Barbarians are one of the top invitational rugby sides with a long history and classic rugby jersey.
The Nike Tiempo is a solid rugby cleat and one of few styles still made from full-grain natural leather.
The Lions get ready for their matches with this green training jersey. It's what the players wear. Get in the Gear!
A cool looking all black rugby cleat with the high performance adidas is known for. Get in the Gear!
Wear the crest of the British and Irish Lions on your t-shirt. A great look for the summer.
The Lions are ready to get their Australia tour underway. They arrive in Perth on Monday.
The New Zealand All Blacks training jersey for 2013/14. Get in the Gear!
The USA Rugby Pro Alternate rugby jersey is perfect for any fan of the Eagles. Get yours to wear during the summer Test matches.
The NEW All Blacks 2013/14 jersey has arrived at World Rugby Shop. Dare to wear the colors of the All Blacks.