Kruse GWS Auctions is selling the white eyelet jumpsuit and cape designed by Bill Belew in 1972.
That year Elvis sold out four straight nights at the world's most famous arena, becoming the first musical act to do so.
The jumpsuit has a starting bid of $350,000 and the cape is opening at more than $25,000.
Fans also have the opportunity to bid on a prototype of Elvis' iconic belts, the helmet he wore in "Viva Las Vegas," and a luncheon with ex-wife, Priscilla, a native New Yorker.
The auction will take place on September 4 at the auctioneer's website.
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