James, who injured his knee recently while skiing in France, withdrew from this week's ACE Group Classic on the Champions Tour.
The tour rookie hopes to return to competitive play in two weeks at the MasterCard Classic in Mexico. The 1999 European Ryder Cup captain tied for 18th in his tour debut at the Royal Caribbean Classic last week.
'I'm not sure how I managed to shoot even par at Key Biscayne,' James said. 'I experienced a lot of pain unless I kept the swing short. I couldn't seem to do that on a regular basis. I had to try and keep it short and not hit it hard, which was not easy to do.'
The surgery is schedule to take place in Fort Lauderdale, Fla. James said he will remain in the city for 'five to six days after the surgery to make sure there are no post-operative problems.'