The 20-year old was hurt in the Fury's 1-0 win over Sydney FC less than a week ago and initially it was thought that he would only miss a week or two.
But subsequent MRI scans have revealed that Malik, who recently signed with former club Adelaide United, has a grade two tear of his left hamstring and will miss four to six weeks.
Fury assistant coach Stuart McLaren said the injury was a big blow to the club but assured fans that Malik would be back to finish his time at the club on a good note.
"This is really unfortunate for the lad, because he was playing himself into some consistent form and has contributed a lot to the squad this season," McLaren said.
"I know that he has made his mind up to play his football elsewhere next season, but Osama was certainly very keen to give everyone at the Fury; the supporters, his teammates and the coaching staff, everything he had until our last game.
"Hopefully we will see him back on the park at some point during January and he will get the opportunity to finish the season on a brighter note."