An alternate captain for the Coyotes, Hanzal has played in 37 of Arizona's 55 games, none since Jan. 29.
Coyotes general manager Don Maloney said the injury is something that has been nagging the Czech center the past few seasons and has gotten progressively worse. Hanzal is expected to make a full recovery.
Hanzal, who turns 28 later this month, has eight goals and 16 assists this season. He has 88 goals and 158 assists in eight NHL seasons, all with the Coyotes.