Newton aggravated the Lisfranc injury, originally suffered in the third preseason game, during a Week 2 loss to the Tampa Bay Buccaneers. He visited with foot specialist Dr. Robert Anderson last month, and surgery was not recommended at that time. Newton was placed on injured reserve four days later.
NFL Network first reported Wednesday that Newton planned to have surgery.
Newton, 30, has one year left on his contract. He is scheduled to count $21.1 million against the 2020 salary cap. Should the team decide to move on from him after this season, it would clear $19.1 million in cap space.
Before this injury, Newton had missed only three starts in seven years. He was the No. 1 pick in the 2011 draft and the NFL MVP in 2015.