"Earlier today ...Franchitti underwent successful surgery to repair the talus bone in his right ankle," Target Chip Ganassi said on its website on Monday.
"After a surgery that lasted just over three hours, he is resting comfortably."
Dr. Terry Trammel, Orthopaedic Consultant for the IndyCar Series, added: "Tim Weber repaired Dario's ankle and his surgery went perfectly and just as planned. His post-operation X-rays looked great.
"Everything is positive at this point as Dario continues his recovery."
Several spectators were also injured when the 40-year-old's car went airborne and destroyed a portion of the catch fence.
Alex Tagliani will replace Franchitti for this Saturday's IndyCar season finale MAVTV 500 in Fontana, California.
(Reporting by Andrew Both, editing by Nick Mulvenney)
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