Interim Panthers head coach Perry Fewell said Newton "will have a procedure next week," though he didn't go into specifics.
It was reported in November that Newton was considering the procedure.
It's unclear why Newton has waited until now to resolve his foot issue. The 30-year-old passer visited a foot specialist in early November with his recovery progressing slowly.
Newton revealed in September that he sustained the injury in the Panthers' first preseason game and hid the severity of it from his coaching staff.