The operation was performed in Florida by Dr. James Andrews and is the latest setback for the 28-year-old, already on the disabled list with biceps tendinitis.
Manager Bob Melvin didn't disclose details about the surgery while talking before Tuesday night's game against Kansas City. The A's later sent out a brief statement saying Devine will miss the rest of the season.
A's head athletic trainer Nick Paparesta said doctors decided to go ahead with reconstructive surgery after an arthroscopic procedure revealed the extent of damage in Devine's elbow.
"In instances like this, you don't even consider what it means to the club," Melvin said. "It's all about him right now. There was a time (last year) when he was as good as anybody coming out of the bullpen in a role that was as important as any role. To have to go back and do that again, I really feel bad for him."
Devine went 6-1 with a 0.59 ERA in 42 outings in 2008 during his first year with the A's but has struggled with injuries ever since.
After missing most of the 2009 season and all of 2010 recovering from the first reconstructive elbow surgery, he briefly came back last season to go 1-1 with a 3.52 ERA in 26 appearances and 23 innings.
Devine went into spring training as a candidate for the closer's job but made just three appearances and had a 13.50 ERA. Before learning he needed surgery, Devine said he remained determined to return, even if it required another lengthy rehabilitation.