AUSTRALIAN Formula One driver Mark Webber has emerged from surgery to pin his broken right leg feeling "sharp and spritely", his spokesman says.

Webber, 32, was riding a mountain bike when he collided with a four-wheel drive while competing in his annual Tasmanian sporting charity event on Saturday.

The Mark Webber Pure Tasmania Challenge spokesman Geoff Donohue said on Sunday that Hobart Private Hospital doctors have inserted rods to mend the breaks in his lower right tibia and fibula.

It's not known at this stage when Webber will be able to leave the hospital, he said.

"He's feeling sharp and spritely, all things considered," Mr Donohue said.

"He is focused on his recovery and the end of the challenge today which raises more than $1.5 million for charity."

Police say no charges will be laid over the collision, described by all parties as an unfortunate accident.

Webber is expected to be fully recovered in time for the start of the F1 season in Melbourne on March 29.

But he is likely to miss the start of the European winter testing.

"He may miss some early testing in the car – it's a setback but it's a minor setback," Donohue said.

The Australian had been due to take part in the Race of Champions event at London's Wembley Stadium next month.

The Mark Webber Pure Tasmania Challenge was set up by Webber in 2003, and has been held in varying formats involving cycling, kayaking, and trekking across the southernmost Australian state over five days.

Webber had been competing in the second-last day of the challenge when the accident occurred on a road near Port Arthur, Tasmania, about 12.40pm (AEDT) on Saturday.

The challenge ends on Sunday in Hobart.