Kruse GWS Auctions is selling the white eyelet jumpsuit and cape designed by Bill Belew in 1972.
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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.
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The auction will take place on September 4 at the auctioneer's website.
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