The owner of the land, Drysdale Metals Pty Ltd, has given the club’s board of directors three months to vacate the property.
It means the golf course, bowling green, and licensed club will cease to operate.
In a written statement to the Lakes Mail, Drysdale Metals’ managing director Glen Drysdale expressed “regret at the necessity of the action”.
“Drysdale Metals has owned the property since 1989 and has provided significant financial support to the club in that time,” the statement said.
“This includes rental concessions of more than $1 million since 2006.”
Mr Drysdale said it was unfortunate, but the situation was no longer tenable.
Mr Drysdale’s plans for the site were not revealed.
A spokesperson for Drysdale Metals said only that the decision was part of a company-wide review of its land holdings.
Mr Drysdale had previously revealed plans to build houses and a small commercial operation on the golf course land.
But in 2013 Lake Macquarie City Council rejected a rezoning application to facilitate such a development.
Morisset Country Club board president Erica Ford said she felt “absolute shock and devastation” at the news.