"The surgeon seems to think there is a chance of a full recovery," Murphy told the province's website.
"After suffering long injured periods over the last two seasons, it is much too early to announce any chance of a comeback.
"I have six to nine months of recovery and rehab to go through. I'll quite literally take each step at a time and take stock of what I'm capable of at the end of that process.
"I'd like to thank everyone who has been so supportive, especially medical staff, players and coaches at Munster - not forgetting the supporters too."
Murphy, who is 28, is looking forward to staying involved by helping with coaching duties at his club UL Bohemians this coming season.