More details, including a timetable, will be announced after the surgery is completed, the Sixers said.
Sources said that Embiid and the Sixers had been exploring treatment options after he suffered a partially torn meniscus and bone bruise in his left knee on Jan. 20 against the Portland Trail Blazers.
Embiid last played in a game on Jan. 27. The 23-year-old appeared in only 31 games this season because of his knee issue and Philadelphia's cautious approach to his workload in response to the two surgeries on Embiid's right foot that cost him his first two pro seasons.
The Sixers initially hoped that surgery would not be necessary on the knee, but a recent scan revealed "a more pronounced tear," according to one source close to the situation.
Embiid was widely considered the NBA's Rookie of the Year favorite until his latest health setback. He was averaging 20.2 points, 7.8 rebounds and 2.5 blocks in just 25.4 minutes per game this season.
Philadelphia (26-44) was 13-18 this season in games in which Embiid played, despite the fact that Ben Simmons, selected No. 1 overall in the June draft, also is missing his entire rookie season with a fractured right foot.