The Brazilian, 26, was injured during Sunday's Ligue 1 win over Marseille.
Neymar joined PSG for a world record £200m fee from Barcelona last August and has scored 29 goals in 30 games.
The club said he suffered "a sprain of the right ankle and fissure of the fifth metatarsal".
They did not indicate how long he would be out for.
PSG are 14 points clear of second-placed Monaco in the league and on 6 March will host Champions League holders Real Madrid, trailing 3-1 from the first leg.
Paris St-Germain forward Neymar will have surgery on Saturday after fracturing a metatarsal and spraining an ankle during Sunday's Ligue 1 victory over Marseille.
Brazil team doctor Rodrigo Lasmar confirmed the news to reporters, and said the 26-year-old will be out for up to three months.
He expects Neymar to be fit in time for the World Cup in June.
But the £200m world record signing will miss the rest of PSG's season.
PSG coach Unai Emery initially said Neymar had a "small chance" of facing Real Madrid in the Champions League next week, before Neymar's father said he would be out for "six to eight weeks".
Lasmar, in quotes reported by O Globo, said: "The operation will be in Belo Horizonte on Saturday morning, and the recovery takes from two and a half months to three months.
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