Dave Molinari of DK Pittsburgh Sports first reported the news Monday.
It should put Malkin on track to return for training camp before the 2020-21 season, which will begin in December because of delays caused by the coronavirus pandemic.
Pittsburgh's 2019-20 season ended quicker than expected with a loss to the Montreal Canadiens in the qualifying round.
Injuries were a problem for the Penguins all year, with Malkin missing time because of a soft tissue injury suffered just two games into the campaign. He was still productive when on the ice, totaling 74 points in 55 games this year to easily lead the team.
The center no stranger to injuries, having missed at least 10 games in seven of the past eight years. The one exception saw him finish in the top 10 of voting for the Hart Trophy as the NHL MVP after totaling 98 points in 78 games.
The 34-year-old remains an elite offensive talent whenever he is on the ice.
The winner of one Hart Trophy and two Art Ross Trophies, Malkin has averaged more than one point per game in 13 of his 14 years in the NHL. He has also been a key part of three Stanley Cup titles with the Pens.
His only negative is his injury history, which once again appears to be an issue for the veteran. But this surgery and the delayed restart will hopefully allow him to go into the 2020-21 season with a clean slate.