But the former Cliftonville frontman - who cost his parent club B£50,000 when he made the move from his homeland last year - has failed to cope with the move to full-time football and his struggles with homesickness.
The 26-year-old has now returned to Belfast after asking both Peterborough and St Johnstone to rip up his contracts, with reports suggesting he is once again training with Cliftonville.
His Saints deal was due to run to January but Gormley still had 18 months left on his Posh agreement.
St Johnstone said in a statement: "Striker Joe Gormley has indicated to Saints that he will not be returning to McDiarmid Park or parent club Peterborough United as he seeks an exit from football and a return to his previous full-time job.
"The striker joined Saints on loan from Peterborough United at the close of the summer transfer window as he attempted to get his career back on track following a serious injury.
"However, he indicated to both clubs recently that he was unhappy in full-time football and intended to return to his home in Belfast and has since done so."
Having played for both clubs already this season, he will have to wait until January before he can play again unless FIFA agree to relax their strict rules on player registrations.
The St Johnstone statement added: "Saints, Peterborough United and the player are working together and have submitted a case to FIFA in an attempt to cancel the current international loan agreement due to exceptional circumstances and await the outcome."
Gormley was highly-rated by Wright but he failed to make an impact in Perth, managing just one start and another appearance off the bench for the McDiarmid outfit.
"The important thing here is Joe's wellbeing and it is clear he does not wish to continue playing full-time football," said Wright.
"Having already turned out for Peterborough United and ourselves that is not an option this season in any case. It's always been our aim to do what's best for the player and that's what we are attempting to do."