Durant, 26, will have the procedure done next week and is expected to return to basketball activities in four to six months, General Manager Sam Presti said Friday in a statement.
The 2013-14 NBA most valuable player suffered a broken foot before the start of the season, causing him to miss 17 games. He later missed time because of injuries to his ankle and big toe.
On Feb. 23, Durant had surgery on his right foot because of lingering pain.
Durant averaged 25.4 points, 6.6 rebounds and 4.1 assists this season.
The Thunder hold a three-game lead over Phoenix for the eighth and final playoff spot in the Western Conference with 10 games remaining, a stretch that includes a matchup Sunday against the Suns.
Follow Matt Wilhalme on Twitter @mattwilhalme