Lamela has not played for Spurs since October's EFL Cup defeat to Liverpool, despite the initial diagnosis of his injury suggesting he would not face a lengthy spell on the sidelines.
But this has not proven to be the case and the 25-year-old spent a stint at former club Roma at the start of the year as part of his rehabilitation.
Mauricio Pochettino admitted earlier this month that he was unsure when Lamela would be fit enough to return to the first team and it has now been decided surgery is the best course of action.
A club statement read: "Erik Lamela is to undergo surgery on his hip on Saturday. This will result in Erik returning to action next season.
"The Argentina international has undergone a comprehensive rehabilitation process following the injury in November.
"The player has achieved a good level of function, however, he has been unable to reach the stage required to make a full return to training.
"Therefore, following ongoing extensive consultation with specialists, surgery has been agreed by all as the best course of action."
The midfielder struggled with an injury-hit season during his debut campaign but was a key member of Pochettino's starting line-up as Spurs secured a third-place Premier League finish last term.
Spurs have endured an extensive injury list this season with Harry Kane sidelined with ankle ligament damage, but the striker is now hopeful he will be fit for next month's FA Cup semi-final.
Jan Vertonghen, Toby Alderweireld, Danny Rose and Mousa Dembele have also endured spells out of the side due to injury but the north Londoners remain on course to secure a second successive top-four finish.