The sister website, which was acquired by the GAME Group in 2004, will be shut from March 1 and its userbase shifted to Gamestation.co.uk, according to MCV.
"We've really enjoyed being part of the gaming landscape for the last decade or so, and we'd like to say a big thank you to everyone who has shopped with us over the years," read a statement on its website.
35 GAME stores will also be shut, with the company aiming to reduce its 610 nationwide outlets to 550 by Christmas 2013.
"So that all of our customers can enjoy the benefits of the new online platform that we launched last year, Gameplay customers will be served through Gamestation.co.uk from March 1, 2012, including customer support for their purchases," said a GAME spokesperson.
"All new orders will be directed through gamestation.co.uk from that date. We're talking to our customers who access our online community through Gameplay about this today, and look forward to welcoming them to the growing community at gamestation.co.uk."
It has been revealed that GAME's IT network will be upgraded so that its online and high street stores will be better interconnected, making click-and-collect purchases a possibility in the near future.
The firm has encountered a number of stock issues recently, with the chain unable to sell Ubisoft's Vita launch lineup or Tekken 3D Prime on the high street.
GAME recently received lender support to alleviate financial troubles following apparent concern by publisher EA.
The high street retailer's shares plummeted by 90% in 2011, despite £1 billion in annual turnover.
It also recently announced job losses at its Basingstoke headquarters.
View images from Vita's launch from GAME Oxford Street below: