The 54-year-old rocker announced the news hours before he was due to go on stage with Guns N' Roses - which also includes Slash and Duff McKagan - on Friday night for one of two Las Vegas warm-up shows ahead of their slot at the Coachella Valley Music and Arts Festival later this month, reported Rolling Stone.
The "Sweet Child O Mine" hitmaker shared a video with the orthopaedic nurse who treated him, which explains the process of the medical procedure he underwent.
The medic revealed that he is in a cast and will need to "limit" the amount of weight on his left foot for a month, but assured fans that he will be "stage ready" in time for the show.
She explained: "Axl sustained a fracture of the fifth metatarsal, which is one of the bones in his foot. Axl underwent what we call an internal fixation where we go in and put the bone pieces back together and realign them and we placed plates and screws to hold them in place whilst healing.
"He'll be limiting the weight from the foot for about four weeks and then we will let them gradually progress from there, so we can get him ready for his stage ready action."
It's believed Axl sustained the injury after slipping over at the band's surprise concert at the Troubadour in West Hollywood last week.