Gibbs sidelined for rest of season
"The fracture has failed to heal satisfactorily and to ensure a complete recovery, Kieran will undergo an operation in London on Friday," said a statement on the club website.
"It is expected that Kieran's rehabilitation will take approximately five months."
Gibbs, who sustained the injury in a Champions League match against Belgian side Standard Liege in November, broke into the first team last season, deputising for first choice left back Gael Clichy.
The 20-year-old had made seven appearances this season for Arsene Wenger's side, who went top of the league on Wednesday following a 4-2 win at home to Bolton Wanderers.
"Needless to say I'm gutted - there's just no other word," England Under-21 international, Gibbs said.
"I'm now just looking to recover from the injury, work really hard and be ready for next season."