Waiters has chose to undergo season-ending surgery on his injured left ankle after receiving second opinions, Shams Charania of Yahoo Sports reports. According to Shams Charania of The Vertical, he's opted to undergo season-ending surgery.
Waiters battled injuries last season in his first year with the Heat as well.
Waiters has not appeared for Miami since December 22.
Asked last Friday about the possibility of such surgery, Heat coach Erik Spoelstra said, "We're not even at that point right now".
Prior to this decision, Waiters had been resting and rehabilitating the ankle, but it was unclear if he had been making significant progress.
Winderman also notes that Waiters complained of ankle discomfort on day one of training camp.
Over 30 appearances this season, Waiters averaged 14.3 points and 3.8 assists while shooting 39.8 percent from the field and 30.6 percent from three after signing a four-year, $52 million contract in July.
Miami has won five straight and is 7-2 in Waiters's absence, a hot streak that has seen the Heat move to fourth place in the Eastern Conference.