The 23-year-old striker's Melbourne City club issued a media release on Thursday night which read that he had "suffered a rupture to the anterior cruciate ligament (ACL) in his right knee during training last week".
The release went on to say: "Gameiro travelled back from Townsville to Melbourne following the injury to undergo scans on Monday. Gameiro will undergo surgery next week and commence rehabilitation immediately. The club wishes Corey the best in his recovery."
It is the third time in less than two years that Gameiro has torn an ACL.
The two previous tears were in his left knee. The first was in November, 2014, when he was representing the Australian under-23 side overseas. He was contracted to Sydney FC at the time.
The second tear came in November last year, when he was playing for Melbourne City in an A-League game against Perth Glory.
The football world immediately rallied around Gameiro on social media on Thursday night, when news of his incredible misfortune spread.
He reacted to the well wishes on Twitter with a couple of replies to messages.
"Thanks heaps guys, I will get through this," Gameiro tweeted.
In another reply, Gameiro tweeted: "It's been a tough last few days, but I know I am going to come out the other side."
A-League stars including Brisbane Roar striker Jamie Maclaren, Sydney FC goalkeeper Danny Vukovic and Perth Glory striker Adam Taggart were among those who rushed to wish Gameiro all the best.
Gameiro was rated one of the hottest young players in the country before he began his horror run of injuries. He is still young enough to get back and football fans in Australia will be hoping as one that his luck changes next time around.