The injury forced the Giants to put Strahan on the injured reserve list earlier this week, making him ineligible for Saturday night's regular season finale at Washington.
The 14-year veteran sustained the injury in a game against Houston Nov. 5. He returned last Sunday against New Orleans, but aggravated the injury and was placed on injured reserve.
He said retirement was a distinct possibility if surgery was required.
"I was thinking about retirement before Tiki (Barber) was (but) I'm not ready," Strahan told WFAN Radio. "If I had to go through the rehab to try and be ready for August, then I don't know."
Strahan had 38 tackles and three sacks in nine games this year. He missed six games and his sacks total was the lowest since he made just one as a rookie in 1993.