The club announced the Brazilian had undergone successful surgery on the injury in his homeland, but will be out of action for at least six weeks.
"Neymar Jr underwent surgery today at the Materdei Hospital in Belo Horizonte," the statement read.
"The operation, conducted by Doctor Rodrigo Lasmar, was successful.
"The operation consisted of the laying of a screw associated with a transplant fixed at the level of the lesion of the fifth metatarsal of the right foot.
"Rehabilitation will begin immediately under the direction of a club physiotherapist.
"Neymar's injury will be assessed in six weeks' time to establish a possible date for his return to training."
There were concerns prior to the surgery that Neymar could face up to three months on the sidelines, putting not only the rest of his league season in jeopardy, but also the FIFA World Cup in Russia.
However, the success of the operation appears to have quashed those concerns, although much will depend on how Neymar recovers from the surgery.