In 2007, Cory Paterson was promoted to train with the Newcastle Knights first team squad. He made his début in round 2 of that year in a win against the St. George Illawarra Dragons. At the end of the 2008 season, Paterson was selected in the Prime Minister's XIII to play the Papua New Guinea national team in Port Moresby. He then toured the United States to visit a number of NFL clubs and trial for the Oakland Raiders as a punter. Paterson suffered depression during the 2009 season, causing him to miss some NRL matches, but returned to good form on the field in 2010 season, when he was selected for the Indigenous All Stars squad. In 2011, Paterson represented the Indigenous All Stars again, but midway through the season he was released from his contract by the Knights, a decision made by the club's incoming coach Wayne Bennett.
After being released by Newcastle, Paterson almost immediately signed for the NorthQueensland Cowboys, on a contract to play for the remainder of the 2011 NRL season and two additional seasons. Paterson was told by the Knights that he was not part of their long-term plans and was free to look elsewhere for 2011 and beyond. Paterson converted to Islam during the 2011 season, requiring him to fast during daylight hours in the month of August, co-inciding with the Cowboys run-in to the NRL finals series. Paterson is close to former professional rugby league footballer Anthony Mundine and current prominent rugby league player Sonny Bill Williams, who both converted to Islam. He sought advice on fasting as a professional rugby league player from Hazem El-Masri, a devout Muslim who played over 300 first-grade matches for the Canterbury-Bankstown Bulldogs. Paterson played 7 games for North Queensland in his first season with the club, he was a member of their qualifying finals series team and scored 4 tries, including a double against the Wests Tigers. Paterson started the 2012 season of playing representative football for the Indigenous All Stars against the NRL All Stars team, he then played in only 2 NRL matches for the North Queensland Cowboys after half the season had finished due to injuries and indifferent form.
Hull Kingston Rovers
On 27 June 2012, he signed a two-year deal with Super League side Hull Kingston Rovers. Paterson coached the Hawaiian All-stars rugby league representative team in their match against Queensland Indigenous at Oahu, Hawaii on 27 October 2012. The match occurred during the 2012 Haida Gwaii earthquake, while tsunami alerts were issued for the islands. While at Hull KR, Paterson formed a successful combination with Michael Dobson. However, it has been reported he has sought an early release from the club to be with his family in Australia.
West Tigers
It was announced in August 2013 that Paterson would join NRL club Wests Tigers on a one-year deal starting in 2014. At the end of the 2014 NRL season and after a total of 96 NRL appearances, Paterson announced his rugby league retirement to pursue his dream of a professional heavyweight boxing career.
At the end of 2014, Paterson ended his brief rugby league retirement and agreed to a one-year deal to play for the Super League club Salford for the 2015 season. It saw him reunite with former teammate Michael Dobson. The deal includes the option of a second season at Salford.
Leigh Centurions
In September 2015, it was announced that Paterson would join Leigh Centurions for the 2016 RFL Championship. In January 2016, he was made one of two vice-captains for the Centurions.
Toronto Wolfpack
In December 2017 Paterson joined the Toronto Wolfpack on a two-year deal.
Boxing
On 5 October 2012, Paterson made a successful boxing début against Anton Tuilotolava. On 12 November 2014, he won his second fight, on the undercard of the Mundine-Rabchenko fight, against Michael Lua Tama by 1st-round TKO. It was his first fight since retiring from rugby league to begin a career in boxing.