The team said Saturday the 7-foot, 260-pound center underwent tests in Australia this week that show the stress fracture in his lower back has healed.
Bogut said in a statement that this day couldn't have come soon enough for him. He says he's looking forward to a productive summer in the gym.
The 24-year-old played 36 games this season, averaging 11.7 points, 10.3 rebounds, 2.0 assists and 1.0 blocked shots.
The former No. 1 overall pick signed a five-year contract with the Bucks last year worth $60 million.
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