A clump of the rock 'n' roll legend's locks, which were sheared when he joined the US army in 1958, will be auctioned in Chicago on Sunday October 18.
Auctioneers are hoping the hair will raise at least $19,000, although in 2002 a jar of the singer's hair made $115,000 when it was sold off.
Photos of the singer's famous hair being cut by a military barber when he joined the US forces is one of the iconic images of his career and life.
A source said: "Girls mourned when they saw Elvis' slick quiff being shaved off - this hair is some of the most famous and important in rock history."
The hair is part of an auction of memorabilia relating to the star, who died in 1977, being sold by his close friend Gary Pepper.
Gary was president of one of Elvis' first fan clubs, and was given a lot of memorabilia by the singer himself.
Meanwhile, Elvis' grandson Benjamin Presley announced this week he has landed a record deal worth $5 million and is recording his first album - though he doesn't plan to copy his famous relative.
He said: "The music will be nothing like Elvis, nothing like him at all."
