The trademark suit, portrait and photographs are expected to sell for $10,000 or more at the June 22 auction in Dallas.
"It's impossible to think of Colonel Sanders, or KFC, without thinking of this white suit," Kathleen Guzman, the managing director of Heritage Auctions, said in a statement.
"To this day, 33 years after his death, the Colonel is just as popular and recognizable as ever."
Mike Morris, manager of a hotel near Cincinnati, Ohio, is selling the suit, portrait and photographs of the colonel, who was a friend of his family's. Sanders gave him the suit after Morris, as a teenager, borrowed it to wear to a Halloween party.
A gun belt worn by American outlaw Jesses James, one of two he owned when he died in 1882, is expected to be another top item, along with a violin once owned by gunslinger Jim Younger, a member of the James-Younger gang.
Both items have pre-sale estimates of $10,000.
