Marshall, 32, also had shoulder surgery last season. Injury limited him to just 15 appearances last year, and he began this season on the disabled list.
He also had shoulder problems in 2013, when he was limited to just 16 appearances.
The latest surgery will prevent Marshall from playing this season.
In 2012, Marshall appeared in 73 games and recorded a career-high nine saves. His ERA last season skyrocketed to 7.71, the highest of his career. The left-handed pitcher played the first six seasons of his career with the Cubs before joining the Reds before the 2012 season.
"He was doing everything he was supposed to do," manager Bryan Price said Saturday of Marshall's rehab, according to the Associated Press. "He's doing everything to rehab one shoulder injury and he injures the shoulder. It's impossible to explain."
Marshall is in the final year of his contract, which will pay him $6.5 million this season.
- Stanley Kay