Ola is said to be "devastated" by the diagnosis. "It looked bad from the beginning but Ola hoped it looked worse than it was," a source told the Mirror.
Ola Jordan is said to be 'devastated' following her injury
"But the professional advice has come back and the news is very disappointing. She's absolutely gutted as there were loads of things in the pipeline which will now have to be put on hold."
Ola sustained the injury two weeks before the end of her contract with Strictly Come Dancing. BBC bosses replaced her with a different dancer for the show's final at the weekend, when all past contestants from the series were reunited on the dance floor.
Ola Jordan and her husband James Jordan
Ola and her partner, TV wildlife presenter Steve Backshall, were voted out of the competition three weeks ago.
A spokesperson for Channel 4 confirmed that Ola wouldn't be competing in The Jump, saying, "Unfortunately, due to injury, Ola is no longer able to take part." Other celebrities scheduled to appear in the sports-related series include Mike Tindall, Heather Mills and Sally Bercow.