Waiters has chose to undergo season-ending surgery on his injured left ankle after receiving second opinions, Shams Charania of Yahoo Sports reports.
A clause in Waiters' contract could sway his decision to undergo season-ending surgery rather than wait until the offseason.
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. He also missed the final 13 games of 2016-17. His recovery time is four to six months.
Waiters battled injuries last season in his first year with the Heat as well.
The Heat now sit fourth in the Eastern Conference. He considered surgery last summer but instead elected to do arduous rehab and treatment, in part because he was a free agent.
Waiters' stats aren't mind-blowing: 14.3 points, 2.6 rebounds and 3.8 assists per game, shooting just 39.8% from the field and 30.6% from three-point range in 30 games played.