The date of Torres' procedure has yet to be determined, but the team expects him to be healthy in time for spring training in 2018.
The 20-year-old was the centerpiece of the Aroldis Chapman trade last year. Upon joining the Yankees, he has risen quickly through their minor league system.
Torres has split his time between New York's Double-A and Triple-A affiliates in 2017, and ESPN.com's Andrew Marchand speculated last Friday a promotion to the majors by the trade deadline was a possibility.
In the Scranton/Wilkes-Barre RailRiders' 6-2 win over the Buffalo Bisons on Saturday, however, Torres suffered a hyperextended left elbow while sliding into home plate. The Bisons shared a replay of the slide:
In 23 games for Scranton/Wilkes-Barre, Torres was batting .309 with two home runs and 16 RBI. He had posted a .273/.367/.496 slash line with five homers and 18 RBI in 32 games with the Trenton Thunder earlier in the year.