The World No.12 did not suffer any damage to ligaments or tendons in his ankle.
"It’s tough kind of living on a razor’s edge on the top,” Agassi said.
The 31-year-old had successful surgery and will begin rehab in six to eight weeks.
If ratified, all singles matches will be played as best-of-three sets, rather than best-of-five sets.
The self-appointed commissioner of tennis has some harsh critique for Margaret Court.
The former doubles partners and Grand Slam champions are no longer on speaking terms.
"I enjoyed the ride and we will remain great friends," world No. 14 announced.