George sustained a left UCL sprain on March 2 and has not played since. He is expected to make a full recovery for next season, the Wizards said.
In 48 games on the season, the 22-year-old averaged 14.8 points, 5.1 rebounds and 4.5 assists while shooting 38.1 per cent from three-point range and 43.8 per cent from the field.
George was born in Switzerland but represents Canada internationally as a dual citizen.
The Wizards (17-59) have the worst record in the league and have been eliminated from post-season contention with six games left to play.