The 32-year-old Izturis will eventually head to the club's Minor League complex in Florida to begin his rehab, but he is not eligible to play again this year.
Izturis appeared in 107 games this season and posted a .236 average with five homers and 32 RBIs. In his absence, the Blue Jays will continue to use a rotating platoon of Munenori Kawasaki, Mark DeRosa and rookie Ryan Goins at second base.
With Izturis being placed on the 60-day disabled list, that opened up a spot on the 40-man roster for Chien-Ming Wang, who made Saturday night's start against the Astros.
Gregor Chisholm is a reporter for MLB.com. Read his blog, North of the Border, and follow him on Twitter @gregorMLB. This story was not subject to the approval of Major League Baseball or its clubs.