Corbisiero endured a six-month lay-off last season due to surgery to repair cartilage in his left knee, having been limited to only three Premiership appearances in the previous campaign due to an issue with his right knee.
Saints coach Jim Mallinder initially believed the 26-year-old's injury to be minor, saying: "I don't think it's too bad. Hopefully it's just a stinger."
The news will come as a blow to England head coach Stuart Lancaster, whose plans for the autumn international series have already been rocked by injuries to some of his front-row options.
World champions New Zealand, hosts of the next Lions tour in 2017, visit Twickenham on November 8.