Laycock broke the foot playing for the Bendigo Bombers in the VFL two weeks ago, but only decided on surgery this week.
The Bomber big man has not played a senior game for Essendon this season and played just two VFL games last year as he could not overcome a problem with the navicular bone in his foot.
He missed this year’s NAB Cup campaign with a calf injury.
Laycock has not played at AFL level since round 20, 2008.
The 25-year-old has played 58 games and kicked 36 goals since debuting for Essendon in 2004.
The latest setback could be career-threatening as Laycock is not contracted beyond 2010.