Presley ordered the high-end limousine when he lived in Bel Air, California. It is customised with the latest tech of the times, including electric windows on all doors, a Blaupunkt Koln radio, air conditioning, an in-car bar and even a microphone, reported the New York Daily News.
While the car originally sported a midnight blue paintjob, Elvis reportedly had to have the car repainted after his mother's chickens wrecked the paintjob. The limo was refinished in a light silver blue, thought to hide the paint chips.
Under the hood, the Rolls housed a 6.2-liter V-8 engine making 200-horsepower and capable of a maximum speed of about 100 mph.
Presley only owned the limo for about five years, gifting it in 1968 to the charity which auctioned it for USD 35,000.
"It is a most interesting model of this highly desirable motorcar complete with undisputed Elvis provenance," Bonham's auction house described the limousine on its website.
"This important and significant Rolls-Royce Phantom V, with its undisputed place in pop culture history, will surely be jewel in the crown for any Elvis collector," it added.
Scheduled to be auctioned at the Quail Lodge Auction in Carmel, California on August 15, the Rolls is expected to fetch a winning bid as high as USD 300,000.