The key back, who has played 200 games in 13 seasons across two clubs, underwent an arthroscope on Thursday, with the club hopeful he'll be available for selection by Round 5 or 6.
"Jordan has been managing the shoulder for some time but it reached a point where surgery was required," said Collingwood GM of Football, Graham Wright.
"The expectation is that he will be out of the selection frame for eight weeks or so, which could see him available by rounds five or six. We’re certainly hopeful of that."
Roughead played 132 games for the Western Bulldogs, including the 2016 premiership, before moving to Collingwood in the 2018 trade period.
He has played 62 of a possible 65 games for the Magpies and is a member of the club's leadership group.
Roughead's absence will leave a hole in Collingwood's defence, with an even greater load now on the shoulders of fellow key defender Darcy Moore.