Bears coach John Fox said during his weekly radio show on Monday that Floyd damaged his MCL and PCL in his right knee during Chicago's 27-24 loss to Detroit on Sunday.
On Thursday, Fox said Floyd would undergo surgery on his right knee within the next week.
The ninth overall pick of the 2016 NFL draft, Floyd had developed into one of the Bears' best defenders. Floyd entered Week 10 with 4.5 sacks and eight tackles for loss. He was credited with four tackles, one tackle for loss and two quarterback hurries Sunday before he left. Floyd finished with seven sacks last season as a rookie, but he had become a much better all-around player in Year 2 with the Bears.
Floyd is the seventh Bears starter to suffer a season-ending injury this year.
The Bears elevated linebacker Howard Jones off the practice squad to fill Floyd's roster spot.