Paul is expected to be out approximately 4-6 weeks. Dr. James Andrews preformed the surgery in Pensacola, Fla. He will be on crutches for 2-3 weeks and will begin rehabilitation immediately.
"Obviously this is a tough thing for me," Paul said. "I have been fortunate through my career as a basketball player to not have suffered many injuries. The main thing is for me to get back healthy and to help this team however I can. Everything happens for a reason and I know I will come back stronger than ever. I have the utmost confidence in Darren Collison to step up in my absence."
Paul was injured Jan. 27 against Golden State, then aggravated the injury when he collided with a camera while chasing an errant pass in the final seconds of regulation against the Chicago Bulls last Friday.
Paul is averaging 20.4 points and 11.2 assists.
Information from the Associated Press was used in this report