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The France international was hurt in Saturday's 1-1 draw at Espanyol and had an operation in his homeland at a clinic in Beziers, Real said on their website.
It is not known how long he will be sidelined but coach Jose Mourinho said he would miss Friday's King's Cup final against Atletico Madrid.
Varane's injury also makes it unlikely he will be available for France's tour to South America next month when they are due to play in Uruguay on June 5 and Brazil four days later.
