The Bible was given to the King of Rock 'n' Roll as a present by his uncle Vester and aunt Clettes for his first Christmas at his Graceland home in 1957, reported Daily Mail online.
Its 1600 pages contain numerous annotations by Presley, who died aged 42 on August 16, 1977, of a heart attack after suffering from prescription drug abuse.
"To judge a man by his weakest link or deed is like judging the power of the ocean by one wave," Presley wrote in one passage.
The Bible, embossed in gold on a leather cover, is among more than 100 lots of rare Elvis memorabilia to go on sale at Omega Auctions in Stockport in England on September 8.
The collection is being sold on behalf of a British Elvis collector and the Bible is expected to fetch in excess of 20,000 pounds.
"With much of the memorabilia in the collection having never previously been seen in the market, we are expecting significant interest from Elvis fans and collectors worldwide," said auctioneer Paul Fairweather.
Another item which recently went on auction was a library card signed by the then 13-year-old Presley.
It was expected to fetch thousands at auction. The 1948 card was found by a librarian while throwing out old books.
The signature is thought to be one of the oldest ever autographs penned by the Presley.
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