The Victorian left-armer, who was rated among the two best Test spin options by national chairman of selectors John Inverarity last week, suffered a shoulder injury while playing Melbourne club cricket last weekend.

It was the third time that Holland, 25, has required surgery on his left shoulder.

Cricket Victoria said Holland had reconstructive surgery on his shoulder on Wednesday and would miss the rest of the season.

"It's disappointing news but I have come back from this before and I believe I still have a lot of good cricket ahead of me," Holland said in a statement.

"I was hoping that it may have been better news, but it wasn't to be. I'll commence my rehabilitation and I'll work hard to come back."

Australia open their home international season against South Africa in the first Test in Brisbane on November 9.