Floyd had surgery Tuesday to "clean up his shoulder," according to Georgia coach Mark Richt.
"We wanted to give [Floyd] the maximum amount of time to be prepared for his senior year," Richt said Wednesday during his Belk Bowl news conference.
Richt announced Saturday at a team function that Floyd would be coming back to Georgia for his senior year rather than entering the NFL draft.
Floyd, named the defense's most valuable player in 2014, led the Bulldogs with six sacks and finished with 55 tackles, 8.5 tackles for loss and three forced fumbles.
Richt said a timetable for Floyd's return to the field has not yet been set.