This is something Id probably get a second opinion on.

In many cases surgery is an option for treatment of otosclerosis. In an operation called a stapedectomy, a surgeon (otolaryngologist or otologist) bypasses the diseased bone with a prosthetic device that allows sound waves to be passed to the inner ear. It is important to discuss the risks and possible complications of this procedure, as well as the benefits, with the surgeon. In rare cases, surgery can worsen the hearing loss.

If the hearing loss is mild, surgery may not be an option. Also, on occasion, some hearing loss persists after surgery. A properly fitted hearing aid may help some people with otosclerosis in situations that include persistent hearing loss. A hearing aid is designed to compensate for a hearing loss by amplifying sound. An audiologist can discuss the various types of hearing aids available and make a recommendation based on the specific needs of an individual. m

My daughter has the same situation, otosclerosis and hearing loss in one ear. DarkSON gave you the same advice that her doctor gave her. Surgery has some risk and might lead to further hearing loss. At the moment she does not have tinnitus but realizes her hearing is getting worse. I don't know what her choice will be but I do know that hearing aids have come a long way and are marvelous little computers in your ear. I just got two and they can be programed to help with the tinnitus. I hope they work. I would check out the hearing aid option before doing surgery, anyway.

Okay, depends on the damage and what type of surgery. Laser surgery is an option. Without surgery the disease will advance.
There is anecdotal evidence that a programmable hearing aid could reduce and/or retard the worsening of the tinnitus..
Research into this s being done. For more information go to http://hkglobal.org/research.html