According to the Panthers' website, team physician Dr. Pat Connor performed the successful procedure.
Newton will begin rehabilitation immediately.
Newton missed the final two games of the regular season with soreness in his shoulder as the Panthers finished 7-9 in the NFC South.
For the season, Newton completed 67.9 percent of his passes for 3,395 yards with 24 touchdowns and 13 interceptions.
Taylor Heinicke and Kyle Allen started the final two games at quarterback for Carolina.