Because it generally takes two weeks to a month to recover from a knee scope, McGahee could possibly return for the Sept. 7 season-opener against the Cincinnati Bengals.
The surgery will be performed at Doctors Hospital in Coral Gables, Fla., near the University of Miami campus. It's the same hospital that surgically repaired his left knee after a devastating injury in the 2003 Fiesta Bowl where he tore nearly every ligament.
McGahee was held out of the Ravens' victory over the New England Patriots last week.
Heading into that preseason opener, Ravens coach John Harbaugh expressed hope that McGahee would be able to return soon.
"We decided to take about a week and work the knee, strengthen it, get the swelling down and get him back after the game," Harbaugh said.
Although rookie runner Ray Rice has been impressive and started in McGahee's place against the Patriots, the Ravens don't currently plan to increase his role beyond a complementary presence when McGahee returns.
"Willis is our back, no question," Harbaugh said. "You need at least two good backs to get through an NFL season."