The 35-year-old veteran hurt the wrist four weeks ago and he said it has continued to get worse. A determination on his return will be made after the procedure.
O'Neal played through the injury before sitting out Wednesday night's 95-93 victory over the Dallas Mavericks. He has seen action in 17 games this season and started one, averaging 6.2 points and 4.5 rebounds in 18.6 minutes.
"I can't even pull a sheet over me without feeling it," O'Neal told the San Jose Mercury News. "I've never been stabbed, but it feels like a deep stab."
O'Neal was hoping to avoid surgery, which could end his season and possibly his career.