The Frenchman sustained the injury in training at the weekend and will now have to wear a protective boot for six weeks following his operation.
The procedure went smoothly, but Boly is not expected to play again until at least the new year.
Wolves' head of medical Phil Hayward said: "Willy had surgery in London to repair the bone with a small metal plate and screws.
"The procedure went as planned with no complications and he will now return to Compton to begin the early stages of his rehabilitation.
"Willy will be in a boot for the first six weeks, working hard to maintain fitness and muscle bulk in the leg before progressing to more functional activities.
"In terms of time scales, a lot depends on how he progresses in the first few weeks and how well the fracture heals."