"Mihocek successfully underwent surgery overnight and doctors have since provided a positive update, confirming he is up and walking today," the Demons said in a statement.
Alan Richardson, Melbourne's general manager of AFL football performance, expressed relief that the operation had gone as planned.
"You never want to see an incident in our game like what we saw with Brody on Monday," Richardson said.
"Brody is in the very best of care and was able to undergo surgery last night, which, thankfully, went as planned.
"Our primary focus right now is supporting Brody, his partner Polly, and their family through his recovery, while ensuring his return to full health."
There was also injury fallout for Collingwood after its eight-point loss to Melbourne.
Defender Brayden Maynard suffered two shoulder dislocations during the match.
Maynard went in for scans on Tuesday morning and confessed to being unsure whether he would need surgery.
An operation on Maynard's right shoulder would most likely end his season.
"Hopefully, I can just strengthen the [shoulder] and get back out there within a couple of weeks," Maynard said.
"But we'll see how we go. If I have to get surgery, I will have to get surgery."