Wade, 22, will be sidelined for up to six months, Wasps confirmed on their website (www.wasps.co.uk), adding that he required surgery to repair "significant ligament damage."
Wade joins a growing list of players missing from the England squad, including 21-year-old London Irish winger Marland Yarde, who ruptured a tendon in his hip a week earlier.
Much was expected of the two young wingers and Yarde started England's recent match with Australia before missing the fixtures against Argentina and New Zealand with hip problems.
Wade also missed those two matches with a hamstring injury.
"It is devastating news for both the player and the club," Wasps director of rugby Dai Young said.
"Christian was hugely unlucky to miss out on being capped this autumn with England and he had hoped to push on and put in some good performances for Wasps to get him in contention for Six Nations selection.
"It is a huge blow for him, but he is a young player with a huge future and his time will come around again."
England have also lost flanker Tom Croft, who has been ruled out for the season with a knee injury, while fullback Ben Foden (knee), forward Alex Corbisiero (knee), forward Geoff Parling (elbow) and centre Manu Tuilagi (hip) all remain doubtful for the Six Nations which kicks off on February 1.
(Reporting by Josh Reich; Editing by Rex Gowar)
