While Thorpe's camp is yet to comment on the reports, it is believed he may have undergone the rumoured surgery mid 2017.
The swimming star is one of the nation's biggest sporting names, having won five Olympic and 10 Commonwealth Games medals.
The now openly gay star battled speculation about his sexuality for years, before officially coming out during a TV interview with UK talk show host Michael Parkinson in 2014.
After denying his homosexuality publicly for years, Thorpe was finally able to be at peace with his identity as a gay man.
"I'm comfortable saying I'm a gay man. And I don't want people to feel the same way I did. You can grow up, you can be comfortable and you can be gay,” he said, hinting at his own struggles.
"I am telling the world that I am gay … and I hope this makes it easier for others now, and even if you've held it in for years, it feels easier to get it out."
Thorpe appears to now be single after splitting from boyfriend Ryan Channing last year.
He has not posted any photos of a potential new partner on Instagram, nor has he confirmed any details of a new romance.
The five time Olympic gold medallist is this year celebrating 20 years since his iconic achievements at the Sydney Olympic Games in 2000.