The Germany international has only completed the full 90 minutes on four occasions since he signed from Cologne at the end of the season. And the report claims the niggling problem has hampered his performances over the course of the season.
Podolski has managed the injury with periodic injections from January onwards, but Arsenal want the problem sorted for the beginning of next season.
Medical staff at the Emirates Stadium have advised Podolski to have surgery on his left ankle, and he's likely to miss Germany's two summer friendlies.
Joachim Low's side face Ecuador and USA on May 29 and June 2. The 27-year-old forward enjoyed a run in the first-team at the beginning of the campaign, but a combination of injuries - ankle and calf - conspired to halt his progress.
A place on the bench led to speculation Podolski could be set to leave the Emirates Stadium after just one season, but the news of surgery suggests Arsenal intend to keep him on next term.
The Gunners forward spearheaded the Arsenal attack in the absence of Olivier Giroud against Manchester United last Sunday. The Frenchman was suspended after his red card against Fulham.
Podolski has still had a productive first season at Arsenal, providing nine assists and nine goals in his 30 league appearances so far.