The Uruguay international sustained the injury during training on Sunday and went under the knife a day later.
Serie A champions Juve revealed that Caceres also underwent a procedure to correct a shoulder problem, but should return before the end of the season if all goes to plan.
A statement on the club's official website said: "Martin Caceres this morning underwent a double operation after sustaining a malleolus fracture in Sunday afternoon's training session at Juventus Center.
"The surgical procedure of osteosynthesis was applied to the fracture and the defender was also subjected to arthroscopy on his left ankle, a necessary course of treatment following the twist he suffered yesterday.
"In addition, he underwent an arthroscopic capsuloplasty procedure, designed to stabilise his right shoulder.
"The operation was successfully performed by Flavio Quaglia and Roberto Ravera at Turin's Fornaca Clinic. Caceres is expected to make a full return to fitness in approximately 10 weeks' time."
The Turin giants also revealed that goalkeeper Gianluigi Buffon has been ruled out of Monday's Serie A clash with Sassuolo as he is suffering from flu-like symptoms.
Get the best features, fun and footballing frolics straight to your inbox every week.
Thank you for signing up to Four Four Two. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.