Margaret Thatcher, 87, is understood to have undergone a minor operation to remove the growth.
The former prime minister’s spokeswoman said Baroness Margaret Thatcher is doing “absolutely fine”.
Margaret Thatcher, who has suffered from ill health in recent years, was admitted on Thursday and is expected to be kept in hospital overnight.
Friends of the former Conservative prime minister said they expect her to remain in hospital for a number of days.
Lord Tim Bell, a friend and former adviser, said the former prime minister had undergone “minimally invasive” surgery.
“The operation was a complete success and her condition is satisfactory. She’ll stay in hospital for a few more days and then she’ll go home,” he said.
“She’s very tough. The doctors are perfectly happy. They say the operation has been completely satisfactory.”
Baroness Margaret Thatcher was the UK’s first female prime minister and served three terms in that post, between 1979 and 1990.
She had a series of minor strokes in 2002 and was advised by doctors to stop making public speeches.
Margaret Thatcher’s daughter, Carol Thatcher, has previously spoken of her mother’s struggle with dementia.
The former prime minister was not well enough to join the Queen for a lunch with former and serving prime ministers as part of the Diamond Jubilee celebrations earlier this year.
And two years ago she was unable to attend an 85th birthday party for her hosted by Prime Minister David Cameron at 10 Downing Street.
However, in October Margaret Thatcher was sufficiently well to mark her 87th birthday with lunch at a London restaurant with her son Mark and his wife.
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