Latham has played in two World Cup finals

The 31-year-old has torn both his anterior cruciate and medial ligaments and needs a full knee reconstruction.

Latham will be out for at least six months, missing the Super 14 season, but the extent of the injury will not be known until Saturday's operation.

"We suspect it is a high grade tear," said a Queensland spokesperson.

"If there are still some fibres attached we may leave it to repair itself, otherwise we will intervene to reattach the ligament."

This is the year I really wanted to make sure that I showcased my skills on the world stage Chris Latham

Despite the setback, Latham is keeping positive and believes he will be in top condition for when the World Cup starts in France in September.

"Come May, I'm going to be in the best shape I've ever been," Latham said.

"I've just come off two of my best seasons ever so the confidence is definitely there and now my body's going to be in the best shape it's ever been.

"So the negative thing to this is missing a full season of the (Queensland) Reds, that's very disheartening.

"But in saying this, this is a World Cup year and this is the year I really wanted to make sure that I showcased my skills on the world stage.

"I'm going to be the in the best shape come that, so that's a positive to me."

Latham has been a key member of the Wallabies since making his Test debut in 1998.