The 6-foot-5, 217-pound freshman guard from Memphis, Tenn., injured his knee during a practice on Friday and an MRI late Monday revealed the extent of the damage.
Applewhite's injury leaves Mississippi State with only eight scholarship players. First-year coach Rick Ray said in a statement he was "disappointed for DeAndre because he had put in a lot of hard work and dedication to become a better basketball player."
Mississippi State opens its season Friday with a road game against Troy.
Applewhite is the second MSU player to suffer a season-ending knee injury during preseason workouts. Fellow freshman Jacoby Davis had surgery to repair a torn ACL over the summer.