Oceana had not yet opened to the public, however one person has been reported missing and a number of others in adjoining properties sustained minor injuries.
Footage of the incident shows plumes of black smoke billowing out of the building as a series of small explosions ripped out entire sections of the roof.
In a statement, Liseberg announced that the fire had "started on the outside of the southern part of the building, quickly spread to parts of the pool hall," and eventually led to the "total destruction of the building."
"One person contracted by Liseberg is still missing, and the police have filed a report of a missing person," the statement continued. "A total of sixteen individuals have sought medical care for minor injuries, all have left the hospital."
Liseberg CEO Andreas Anderson said he and his team were "deeply saddened by the devastating event," adding, "our primary task now is to assist the police in the search for the missing person and to support everyone affected."
Crews worked to battle the blaze, and prevent it from spreading to the Liseberg Grand Curiosa Hotel and Liseberg's nearby office buildings, which were all promptly evacuated.
The hotel and the adjoining restaurants will remain closed until Wednesday, and all reservations for Monday and Tuesday night have been cancelled.
In their statement, Liseberg did not reveal what had caused the explosion and ensuing fire, but said that a press conference will be held Tuesday, February 13 at 11:00 am local time.