Speaking to Rolling Stone, the Smashing Pumpkins singer criticised Mayer for his comments about Jessica Simpson.
In a recent interview with Playboy, Mayer described Jessica Simpson as "sexual napalm" and said that she was like "crack cocaine".
"He's trying to destroy his career," Corgan said. "Rather than take a year off or change his musical direction, some part of it is irritating his soul to the point where he's trying to blow it up.
"Certainly a talented guy, but empathetically, standing on the sidelines, it's hard to watch someone literally burn their career to the ground, speaking as somebody who's done it."
Corgan added: "I think for any person who has celebrity to drop rocks at somebody else's feet like that, there's things you should really just keep your mouths shut on."
Corgan recently revealed that he "loves" Simpson.
> Simpson 'will always care for John Mayer'