The 25-year-old Argentinian was carried off on a stretcher after receiving lengthy treatment towards the end of Rangers' 1-1 draw at Stadium mk, leaving the visitors down to 10 men with all three substitutes having already been used.
He took to his Twitter account this evening to confirm the worst, and posted: "I just wanna let u know guys, its bad news for me I have rupture of the ACL,I'm out for the rest of the season! Really disappointed sad!"
He added: "Things never been easy for me! But for sure I will be back stronger!!I accept this test as professional and person as well!!"
Faurlin joined QPR in summer 2009 from Argentinian club Instituto and was voted player of the year by both players and supporters in his first campaign.
He then helped the club win promotion to the Barclays Premier League by winning the npower Championship last term.
Rangers lie 17th in the table, just one point and one place clear of the bottom three and having won only five of their 20 top-flight games this season - a run which earlier on Sunday evening cost manager Neil Warnock his job.
Source: PA
Source: PA