A magnetic resonance imaging exam revealed Murray -- the SEC's all-time leader in passing yards and touchdown passes -- tore an anterior cruciate ligament during Saturday's game against Kentucky.
Surgery has been scheduled for next week.
"Thank you for all the prayers over the past few hours," Murray wrote on his Twitter account. "Gonna come back stronger than ever! Dawg for life. Truly love you all #GoDawgs."
The senior started 52 games for the Bulldogs in his career. This season he completed 64.8 percent of his passes for 3,075 yards with 26 touchdowns and just nine interceptions in 11 games.