The release said Ware had the bone re-set and a rod inserted in his right tibia during two hours of surgery at the hospital.
Ware is expected to remain in the hospital until at least Tuesday when he's then expected to make a return to Louisville and rejoin his team. The Cardinals play Wichita State in the Final Four on Saturday night in Atlanta.
U of L said there is no timetable for his return to basketball.
The 6-foot-5 Ware, who is from the Bronx and played his high school ball in the Atlanta area, has been a big key backcourt reserve for the Cardinals. He has averaged 4.5 points in 16 minutes a game for U of L.
In the Sweet 16 win over Oregon, Ware had a career-high 11 points after a career-high five assists in the second round against Oregon.
"He's the toughest guy I know," sophomore Wayne Blackshear said.
U of L coach Rick Pitino called it a "Michael Bush-type" injury after the game and said that Ware "will be fine and that's the most important thing." Bush suffered the same kind of injury when he played football at U of L.