Gasol, who averaged 16.6 points, 7.0 rebounds and 3.8 assists this season, had the procedure to repair a non-displaced Type II fracture of the navicular bone on Saturday. The team said he's expected to make a full recovery.
"Marc remains a cornerstone of our franchise and we are pleased to hear that the surgery went according to plan," Grizzlies GM Chris Wallace said in a statement. "Marc's determination and competitive spirit will serve him, his family and the team well as he begins the healing and rehab process from which we expect him to make a full recovery.
"We are confident we will have Marc back anchoring our team next season and beyond."
Gasol suffered the injury Feb. 8. It is uncertain whether he'll be able to participate with Spain at the 2016 Summer Games in Rio de Janeiro.
The 7-foot-1 Gasol signed a five-year contract with Memphis in July 2015 after earning a starting spot in last year's All-Star Game and becoming the first Grizzlies player voted to the All-NBA first team.
The Grizzlies are 32-23, good for fifth in the Western Conference standings.
"It is frustrating to not be on the court with my teammates at this time," Gasol said in a statement. "But I understand that the focus of this process is on long-term health and stability. I look forward to the road ahead and a full and successful recovery."