The highly-rated 22-year-old, a product of the Warriors Academy system, will now undergo surgery and is set to miss six months of action.
Head Coach Richard Hill said: "Jake has demonstrated that he is a very exciting and prodigious young player with great talent this season.
"Unfortunately in rugby even the very best have injuries and have to deal with them. I know that Jake will come back even fitter and stronger than before.
"The club will now do everything we possibly can to ensure he returns to full fitness as soon as possible and we look forward to seeing him back in Worcester colours again, hopefully towards the end of this season."
Abbott, who had featured in every league game this season, remains positive about the future and added: "I'm determined to get back and everyone who knows me will know my heart is with Worcester. I always want to be part of this club.
"I will be back from this and will remain positive during my rehabilitation and train hard. I won't rush back and will make sure that when I return I'm ready and can make a real impact again.
"I would like to thank the many supporters who have sent good luck messages since the injury and I look forward to playing for them again next year."