Harvey, 24, developed into the Mets' ace this season, his second in the major leagues. He was 9-5 with a 2.27 earned run average in 26 games.
He was placed on the disabled list in late August after being diagnosed with a partially torn ligament.
Harvey had delayed surgery as he tried to cure in the injury with rest and rehabilitation but the Mets said Friday surgery will be performed in the next month.
"After further consultation with doctors, Mets pitcher Matt Harvey has elected to have surgery to repair a partial tear of the ulnar collateral ligament in his right elbow," the team said in a statement on its website. "Dr. James Andrews will perform the surgery later this month."
The Mets said Harvey will have a procedure to repair a partial tear of the UCL in his right -- throwing -- elbow. The operation -- in which is ligament is taken from another part of the body and placed in the arm -- is named after pitcher Tommy John, who underwent a similar operation in 1974.
Recovery from the process generally requires 12-14 months.