Rodriguez, 37, will have an arthroscopic procedure to repair a torn labrum and bone impingement while correcting a cyst on his left hip, the Yankees said.
He had similar, but not identical, surgery on his right hip in March 2009 and was still able to play 124 games the following season.
The current problem was discovered during an annual physical examination. Rodriguez is to complete 4-6 weeks preparatory work before the surgery, which would be in January. Recovery time after the operation would be 4-6 months. That would put him back in the lineup in June.
Doctors examining Rodriguez said the injury probably contributed to his late-season struggles while hitting.
Rodriguez hit .272 -- 28 points below his career mark -- in 122 games last season, with 57 runs batted in. In the playoffs, he had just three singles in 25 at-bats. He was twice lifted for a pinch hitter and kept out of the starting lineup for three games.
Rodriguez, after 18 home runs last season, is fifth on the all-time home run list with 647.