The powerful outside centre, widely tipped for international duty after showing good form in the Super Rugby season, came off early in the second half of the Reds' 30-17 win at Lang Park and shed tears on the sideline as he iced his wrist.
The 22-year-old would undergo surgery on Tuesday and was expected to be out of action for up to four weeks, the club said in a statement.
That would leave Fiji-born Kerevi, cousin of former Wallabies forward Radike Samo, in a race to be fit for the first match of the three-test England series in Brisbane on June 11.
"He's got a level head on himself," Reds captain James Slipper told reporters.
"We all know he's a future Wallaby so he just needs to keep being consistent, stay humble and keep working hard."
Kerevi's injury soured the rebuilding Reds' second win of the season and comes ahead of a difficult assignment against the Canterbury Crusaders in Christchurch.
(Reporting by Ian Ransom; Editing by Nick Mulvenney/John O'Brien)
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