The Chicago Sun-Times first reported the story.
Wolfe suffered the injury on Nov. 8 versus Arizona, and he was hospitalized for the next few days. Still, the Bears were optimistic Wolfe would be able to return in 2009.
The Bears said Wolfe will be placed on injured reserve.
Practice squad running back Kahlil Bell is a strong candidate to be promoted to the 53-man roster.
Jeff Dickerson covers the Bears for ESPNChicago.com.