The 2½-hour surgery was performed by Dr. John Frazier and Dr. Thomas Peatman at the San Rampon Surgery Center.
"It went extremely well," A's head trainer Steve Sayles said. "The doctors feel he will do well following surgery."
Chavez has been limited to 113 games the past two years due to various injuries. The six-time Gold Glove winner will not throw a ball for about 5 months.
"He's a huge part of our team," Oakland manager Bob Geren said. "You see how much our offense has missed him."
The A's also placed outfielder Ryan Sweeney on the 15-day disabled list before Wednesday night's game against Tampa Bay with a sprained right thumb.
Sweeney, among AL rookie leaders in stolen bases and batting average, injured his thumb making a diving catch in right field that helped preserve the A's 2-1 victory over the Rays on Tuesday night.
"He's been one of our best baserunners, defensive players and offensive players," A's manager Bob Geren said. "It's a big blow. Hopefully it will be no more than a couple of weeks."
Sweeney is hitting .287 with four home runs and 37 RBIs. He's yet to make an error in 114 career games.