He sat out his third straight game Sunday against Boston, but the Knicks initially reported the injury was just soreness and swelling, with Hornacek saying before the game that he believed Rose could play again this season.
Rose had three previous knee operations while with the Bulls, including one fix a torn ACL in his left knee suffered during the 2012 NBA Playoffs. The Knicks announced the knee will require arthroscopy, and it will be Rose's fourth surgery to either knee.
Derrick Rose is done for the season after an MRI discovered a small tear in his meniscus.
Derrick Rose's season and maybe even his New York Knicks career seem to be over, according to Adrian Wojnarowski of The Vertical.
"He will be out for the remaining five games of season", the Knicks said.
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Rose tore his left ACL in the 2012 playoffs and missed the entire next season. While his durability was always in question, his skillset on the floor provided an immediate upgrade for NY at the point guard position.
Troubled by knee injuries throughout much of his career, Rose averaged 18 points in 64 games in his lone season with the Knicks. A source told the Tribune that Rose's rehab is projected to take six to eight weeks.
It will also end any notion of him getting a max deal in free agency.
The Knicks are likely to move on from Carmelo Anthony this offseason as well, rebuilding in president Phil Jackson's effort to return the franchise to relevancy.