The Hurricanes star has started all but one of New Zealand's Test matches this year, the defeat to the Springboks in Baltimore during Rugby's Greatest Rivalry series, but will be sidelined for the Bledisloe Cup games against Australia and the end-of-year Nations Champions games.
Love was pivotal in the Hurricanes' charge to a first Super Rugby Pacific title in 10 years, which saw him emerge as the first-choice number 10 under new head coach Dave Rennie.
However, he sustained an ankle injury in South Africa, and will now be on the sidelines until the New Year.
"Ruben Love will undergo surgery after sustaining an ankle ligament injury, ruling him out for the remainder of the year," an All Blacks statement read.
"Wishing Ruben all the best with his surgery and recovery."
The statement comes following reports from Sky Sport NZ's Breakdown, in which show host Kirsty Stanaway detailed: "Massive news for the All Blacks, we can reveal exclusively on the Breakdown that our All Blacks first-five, the man that has worn the number 10 jersey for the majority of the Tests this year, Ruben Love sustained an ankle injury in South Africa.
"He needs surgery and he will be out for the remainder of the year. So, no more All Black Rugby in that 10 jersey for Ruben Love. Devastating news for him and such a shame considering it's his time."
Reacting to the news, former All Blacks fly-half Aaron Cruden said: "I am devastated for Rube, because he earned it through the way that he played and conducted himself through Super Rugby.
"What a test to go and challenge yourself against the world champions over in South Africa. So yeah, I think all of us are just thinking of Ruben right now, hoping that he recovers really quickly, but it's a good chance for him now to go and reflect on what a year it's been."
Love has not been included in the All Blacks squad for the Bledisloe Cup Test matches against Australia due to the injury, with Rennie naming Richie Mo'unga and Josh Jacomb in the squad. Damian McKenzie and Beauden Barrett were named among the outside backs but are possible options in the number ten jersey too.
Legendary winger Jeff Wilson added that it's a real 'shame' that Love has sustained the setback in what has been a breakout season for the 25-year-old, who debuted in October 2024 under former head coach Scott Robertson.
"It's a shame though because he's a player who's had a number of injuries over his career to date already and just when he's starting to build his confidence in the jersey, the way he's played all season, he led the Hurricanes to a title and for me, this is devastating for him because he was making so many gains. The experience he was getting, now he's going to have to wait longer," Wilson said.
"He's almost got to get himself back into this type of form again, and that's not going to be easy."
Former All Blacks prop John Afoa added: "Well, that's it. He was up there in South Africa against the world's best and he would have come back for the Tests against Australia and he would have cashed in and really found some real confidence and then going into the World Cup year.
"So I'm sure he'll be disappointed but he's the kind of kid that still feels like he's young enough to bounce back with a smile on his face."