Staios, in and out of the lineup since spraining a ligament in his left knee during practice Nov. 23, aggravated the injury March 7 against Tampa Bay. He hasn't played since.
Staios will miss the team's final nine games, leaving the Oilers' injury-riddled defense with four rookies in the lineup.
No date for surgery is set.
"I feel comfortable with the decision," Staios said. "We've taken some time to think about it and do the right thing."
The 33-year-old Staios had his streak of 224 consecutive games ended when he sat out against the Chicago Blackhawks on Nov. 24.
Staios missed a total of 15 games, including Edmonton's last six outings, before the decision was made to have the surgery. Recovery is expected to take four months.
Staios, injured two days after signing a four-year contract extension worth $10.8 million Nov. 21, says he expects to be healthy in time for training camp.
"The timing is right," Staios said. "The sooner the better. Four months sounds like a long time, but I think I'll be on the ice before that."
The 10-year veteran had two goals, 15 assists, and 97 penalty minutes in 58 games this season.