The 32-year-old, who last played for the club in October, has undergone surgery to repair a torn groin muscle, ruling him out for the rest of the season.
This means that Billiat will fall short of his goal of scoring 100 times for a South African club, with 97 goals to his name as the all-time top scorer among active PSL players.
His struggles at Chiefs, where he is in his fifth season, have been well-documented, as the Zimbabwean forward has not lived up to the expectations set by his performances at former club Mamelodi Sundowns.
Despite providing three assists this season, Billiat has yet to score in 11 appearances and his contract with the club expires at the end of the season.
A bittersweet end to a remarkable career.