According to Shams Charania of Yahoo Sports, Waiters will opt to go under the knife, which would cause his 2017-18 campaign to come to an abrupt end.
A report indicated that Waiters was contemplating getting surgery on his ankle after speaking to multiple doctors on how to proceed.
Before arriving at his decision, he consulted with specialists to weigh the possibility of season-ending surgery or a procedure that could've allowed him to return before the playoffs. His recovery is expected to take four to six months, a league source said.
Waiters has had issues with the left ankle for a while, and he's missed the last nine games after he turned the ankle in the first quarter of Miami's game against the Mavericks on December 22.
Canada complains to WTO, says USA breached trade rules
Trump amid NAFTA talks: If you kill the deal, this is how Canada will fight you in trade disputes. With its WTO filing, Canada is forcing the United States to put its logic to the test.
Forecast calls for freezing weather
Depending on how much cloud cover we get and how much cool air is behind the cool front it could be even lower than that. Potential western lowland snow amounts were being called "variable" and "uncertain" as of Friday morning.
Netanyahu to embark on a six-day visit to India
Modi was the first Indian Prime Minister to have visited Israel after the two countries established diplomatic ties in 1992. That trip came as Israel and India marked the 25th anniversary of the official establishment of diplomatic relations.
The Heat now sit fourth in the Eastern Conference.
The Miami Heat are having a very good season.
Waiters battled injuries last season in his first year with the Heat as well.
Waiters' production has dipped this season as he has played through pain in the ankle that he said was "excruciating" at times. In 30 games this year, Waiters was averaging 14.3 points and 3.8 assists in 31 minutes of action.