He previously had surgery on his right elbow in 2022.
“Medical scans have confirmed that Wood has a bone stress injury of the right elbow,” said the England statement. “He had noticed increasing stiffness and discomfort in his elbow during the Test series against the West Indies earlier in the summer.”
Wood added: “Right, some pretty rubbish news…
“During what I thought was routine check on a previously troublesome elbow, I was shocked to learn I’ve got some bone stress in my right elbow. I’m especially surprised because I’ve been playing Test cricket and kept my speeds up.
“I will miss the rest of the year needing time to rest and build up, fully expecting to be back and firing in early 2025.”
England have refreshed their Test team this summer with an eye on the Ashes tour of 2025-26.
Wood appears key to their prospects of regaining the urn, with his high pace a vital weapon on Australian pitches.
The pace attack has undergone significant upheaval following the retirements of Stuart Broad and James Anderson, while Ollie Robinson has been discarded.
Josh Tongue, Jamie Overton, Dillon Pennington are all injured, and Brydon Carse is only just returning from a ban for historic gambling offences.
Chris Woakes, Gus Atkinson, Matthew Potts and Olly Stone have been in the squad for the Sri Lanka series, while for the final Test England have handed a debut to 20-year-old Leicestershire left-armer Josh Hull.