"After much consideration, I underwent a double mastectomy," Bates, 64, told the magazine. "Luckily, I don't have to undergo radiation or chemo. My family call me Kat because I always land on my feet and, thankfully, this is no exception."
The actress said she is optimistic about her recovery and eager to resume her career.
"My doctors have assured me I'm going to be around for a long time," she said. "I'm looking forward to getting back to work doing what I love to do."
Bates won a Best Actress Oscar in 1991 for her work in the film "Misery." She was most recently seen on the small screen in "Two and a Half Men," "Harry's Law" and "The Office." Her 1997 movie "Titanic" was released this week for the first time on Blu-ray and she will compete in two categories at this month's Emmy Awards ceremony.