The 6-foot-5, 230-pound Ragone, who had one catch last season but was projected as a starter in 2008, was injured while running routes during the summer, Notre Dame coach Charlie Weis said in a statement.
"His two options were to have the knee fixed immediately or to brace it and try to play," Weis said. "He understood that eventually the knee would have to be fixed and he was hoping to do it at the conclusion of the 2008 season.
"Mike had continued to practice but felt his progress had deteriorated."
Ragone came to Weis on Thursday and told him of his decision to have surgery, the coach said.
"The surgery was successful and Mike will spend the 2008 season rehabbing to be ready for the 2009 season," Weis said.