The news comes as a huge blow to Wales, who were hoping that their No.8 would make the final two games of the Six Nations against Scotland and Ireland.
Wales had just revealed the news that Leigh Halfpenny is back in training and fit to face England in the Six Nations, but the loss of 76-time international Faletau is a blow.
"Following further expert opinion, Bath Rugby can confirm that Taulupe Faletau will require further surgery on his right arm," said a statement from the club.
"We're gutted for Taulupe, but this is the best course of action for him moving forwards as a player," Bath Director of Rugby Todd Blackadder said.
"We will know more in terms of time frames following the surgery, but we're looking forward to welcoming him back into the squad."
The 28-year-old Tonga-born star, who has had no luck on the injury front in recent times, suffered the latest setback in January's European Champions Cup pool victory over Wasps.