The Knicks said that Rose was going to have a procedure on his ankle.
According to the Knicks, there is no timetable for his return.
The expectation was that Rose would return for the Friday night game against the Miami Heat after missing two months with an ankle injury.
Rose told reporters that he hoped to return after the All-Star break.
Rose has not played since suffering the injury against Houston. He had a bone spur removed.
Without Rose, the Knicks have struggled to find a consistent point guard. He was New York's strongest attacker of the rim, shooting 53% on drives for a team that was 27th in field goal percentage.
The Knicks are in 12th place in the East, three games behind the Atlanta Hawks for the 10th and the final play-in spot.