The Rangers say he will undergo surgery Friday in New York.
The 22-year-old Kreider was injured one week ago in New York's win at Columbus, but played in the next two games. The left winger, who has 17 goals and 37 points in 66 games this season, was limited to about 10 minutes of ice time in the two games following his injury.
He missed Wednesday's home win over Philadelphia and didn't accompany the team on its four-game Western Conference road trip that begins Friday night at Calgary.
Kreider, the No. 19 pick in the 2009 NHL draft, leads New York with a plus-14 rating and is tied for first with six power-play goals.
The Rangers are 11-2-1 in games in which he has a goal and 19-7-2 when he records a point.
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