
The 24-year-old will have the operation this weekend after struggling for full fitness for the past two months.
"For the last eight weeks Jermaine has undergone intensive treatment at Melwood between matches for the injury," the club said in a statement on their website.
"But following an acute exacerbation of the problem during the (Champions League) game against Besiktas it has now been decided he requires surgery.
"We anticipate Jermaine will be out for approximately 10 weeks."
Pennant had enjoyed a strong start to Liverpool's season but is now unlikely to return until the end of January.
Liverpool, who are unbeaten in the English Premier League this season, lie fourth in the table, six points behind leaders Arsenal, whom they face at Anfield on Sunday.