Wandell is expected to have surgery next week.
Wandell, who turns 23 on Friday, had 15 points and was plus-2 in 50 games played for the Stars this season. He had impressed the coaching staff with his skating and ability to play smart hockey for such a young player.
"He played really well for us this year right from the start of training camp and it's been a great learning year for him," Stars coach Marc Crawford said. "Unfortunately, that's it for him the rest of this season. Terrible news. On the good side of it, he's gone through this surgery five years ago on his other leg and completely recovered. So he knows what lies ahead for him in terms of the rehabilitation, and I think he'll come back stronger and even better as he moves forward."
The Stars face Calgary at American Airlines Center on Wednesday.