Bortles dealt with the issue in his throwing wrist since early December 2016. The Jaguars elected to avoid surgery last offseason and treat the injury with a variety of shots. The shots became less effective into the season and made the need for surgery inevitable.
The surgery repaired a small tear and full recovery is expected.
The Jaguars' decision to pick up Bortles' fifth-year option was somewhat of a gamble because the contract was guaranteed for injury, meaning he would be owed the full amount if he cannot pass a physical before the league year starts.
Bortles' $19.053 million salary for the 2018 season becomes fully guaranteed if he's on Jacksonville's roster the first day of the league year in March; the Jaguars are prohibited from cutting Bortles while he is hurt or recovering from an injury.
Bortles had the best year of his career despite the wrist injury, completing 60.2 percent of his passes and throwing 21 touchdown passes and 14 interceptions. He appeared weekly on the injury report but did not miss a practice and did not appear on the game status report.
Backup quarterback Chad Henne's contract also expires in March.
ESPN's Michael DiRocco contributed to this report.