The classic costume also comes with the signature cape and cowl.
A spokesman for auctioneers Profiles In History said: "This is a complete costume, from head-to-toe, with the zipper in the back to allow entry for Keaton.
"It's mounted on a custom display, with a lifecast face of Michael Keaton, and stands over six feet tall.
"It's a very rare and highly desirable costume from this film, which is now considered a classic in the superhero genre."
The two-day auction will occur on Thursday and Friday, in Calbasas, near Los Angeles.
You can read more about the item and more Batman related artifacts at the auction in this article.