The 55-year-old spent 16 years with the Lilywhites during his playing days, racking up close to half a century of appearances during that time.
Mabbutt, a member of the 1984 UEFA Cup and 1991 FA Cup winning squads, will go under the knife later today.
A Spurs statement read: "Gary Mabbutt was admitted to hospital this morning where he will undergo heart surgery later after suffering chest pains and breathlessness. Everyone at the club wishes our legendary former captain a speedy recovery. Get well soon, Mabbsy!"
Mabbutt has been a club ambassador at Tottenham since 2010 and was recently paraded around the pitch following the final game to be staged at White Hart Lane.