"Andy Carroll will have surgery on his injured knee on Tuesday following assessment by a specialist on Friday afternoon," a statement said.
"The recovery phase is expected to keep Carroll out for the remainder of the 2014/15 season."
Carroll was injured after coming on as a second-half substitute in the 0-0 draw against Southampton in midweek.
Since joining West Ham on a permanent basis from Liverpool in June 2013 for a fee of around 15 million pounds ($23.10 million), the powerful England striker has been plagued with injuries, spending long periods on the sidelines.
He missed the first half of the 2013-14 season with a heel injury and the beginning of this campaign with an ankle problem, returning to action in November.
He has scored five Premier League goals this season.
West Ham face top flight rivals West Bromwich Albion in the FA Cup fifth round this weekend.
(Reporting by Martyn Herman; Editing by Amlan Chakraborty and Pritha Sarkar)
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