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Jeanette 'The Black Widow' Lee

Jeanette "The Black Widow" Lee -- one of the most famous billiards players EVER -- has been diagnosed with cancer ... and her friends say she now has less than a year to live.

The 49-year-old's awful diagnosis was revealed in a GoFundMe this week ... when Lee's family and friends explained docs recently discovered Lee has stage four ovarian cancer.

In the statement, Lee's family and friends said, "The cancer has fully metastasized into her lymph nodes and the prognosis is dire."

They added, "At this stage, her doctors say she has a few months to a year left to live.