The January signing from Middlesbrough sustained the problem during last weekend’s defeat to Aston Villa following a challenge from former Hammers star Nigel Reo-Coker.
O’Neil has been forced to undergo surgery on the problem and the 27-year-old has declared the operation a success.
“It was a successful operation. I have got some joint damage in the ankle that they had to sort but I am told it went well,” O’Neil told the club’s official website.
“I am disappointed not to be involved for the last five games but I am looking to get back as fast as I can next season. I will be right behind the lads and I’ll be cheering them on at the matches.
“I have got my head around the timescales involved for my comeback. I have just got to keep my foot up for a few weeks and then take it from there.”
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Hammer Blow For Crocked O’Neil