Renner was hit by N.C. State's Monty Nelson and Robert Caldwell after sliding to the ground on a five-yard scramble with 1:27 left in the third quarter. Renner immediately grabbed his left shoulder and motioned for the athletic trainers, who appeared to slide the shoulder joint back into place.
Renner told reporters following the game that he had his shoulder dislocated in high school as well.
"It doesn't feel too good at first when it's kind of hanging out," Renner said. "I can't explain it. Once it gets back in, it feels a lot better...
"I thought it kind of just slid out of place like it has before, but it was kind of hanging after."
According to team sources, further tests following the game revealed more significant damage to the shoulder, specifically a fracture and detached labrum. Surgery is scheduled for Wednesday.
The 2014 NFL Regional Combines begin in early February and the NFL Draft is set for May 8-10.
Renner, who returned to the field for a play in the fourth quarter, finished the game completing 15-of-22 passes for 124 yards.
The final play of Renner's UNC career was a third-down conversion with 9:45 left in the game as he found T.J. Thorpe over the middle for nine yards on 3rd-and-4.
Renner (152-of-231 for 1,765 yards, 10 TD, 5 INT in '13) finishes his Tar Heel career with 8,221 passing yards, which places him 20th in ACC history.
In the UNC record books, his career totals place him third in passing yards, second in passing touchdowns (64), third in completions (668) and first in completion percentage (66.5). He
holds the top two single season touchdown pass totals (2011, 2012), as well as the school record for most career 300-yard passing games.
Renner was 1,157 passing yards and five touchdown passes shy of becoming UNC's all-time leader in those statistical categories.
Renner has been a weekly presence at UNC's Monday press conferences in recent years, even showing up on Sept. 30 with a walking boot ahead of the Virginia Tech game. He was not present on Monday.
Redshirt sophomore Marquise Williams, who started in Renner's absence against Virginia Tech and then split time with Renner the three games thereafter, now assumes the sole starting role.
Williams is 40-of-66 for 537 passing yards this season, with six touchdowns and three interceptions. The dual-threat signal caller has rushed for 221 yards on 50 carries.