Bono needs "intensive therapy" after having three metal plates and 18 screws inserted into his elbow.
The U2 frontman underwent a five-hour operation on Sunday night following a bicycle accident in New York's Central Park earlier that day, which left him with a fractured face, shoulder blade and left humerus bone which had "driven though his skin" and split into six pieces.
Orthopaedic trauma surgeon Dean Lorich told Rolling Stone in a statement: "He was taken emergently to the operating room for a five-hour surgery Sunday evening where the elbow was washed out and debrided, a nerve trapped in the break was moved and the bone was repaired with three metal plates and 18 screws.
"One day later, he had surgery to his left hand to repair a fracture of his fifth metacarpal."
The 54-year-old singer was rushed to the New York-Presbyterian/Weill Cornell Medical Center's Emergency Department following the "high energy" incident, where he had "multiple X-rays and CAT scans".
Despite his multiple injuries, the surgeon is confident the star will make a "full recovery".
"He will require intensive and progressive therapy, however a full recovery is expected," he added.
U2 were forced to cancel their week-long residency on 'The Tonight Show Starring Jimmy Fallon' following the smash, and the Irish rockers took to their website to thank the host for his "understanding" in the circumstances.
"It looks like we will have to do our 'Tonight Show' residency another time -- we're one man down," a statement read.
"Bono has injured his arm in a cycling spill in Central Park and requires some surgery to repair it.
"We're sure he'll make a full recovery soon, so we'll be back!
"Much thanks to Jimmy Fallon and everyone at the show for their understanding."
The accident came just a few days after the 'One' singer cheated death when a door fell off his private jet as he flew to Berlin, Germany.
A source said after the terrifying accident last Wednesday: "He was extremely lucky, the plane could have gone down."