3.5mm headphone jack to Optical audio (TOSLink) cable

I have a macbook pro from 2010. Before I buy one I was wondering if I can use a 3.5mm (headphones jack) to optical audio cable (Toslink) to have sound from my macbook pro run through my surround sound system? Anyone know if this works? My surround sound system definitely has the optical audio input.

The reason I ask is I have the mini display to HDMI cable already so I can use my TV as an external display but I'd like to have a way for my sound to come through my surround sound speakers. I don't know if there would be another way to have my sound come through either my TV or surround sound system.

Any help you could provide would help me out a lot. Thanks!