The basketball player is believed to have struck a deal with auction house Christie's to anonymously sell the ring in an upcoming October auction titled "Bright and Beautiful".
While Kris has not formally announced his plans to auction the ring, and the sparkler is listed as the property of a "gentleman", it is speculated that the item is in fact Kim's old engagement ring, according to MailOnline.
The impressive Lorraine Schwartz rock features the same details as Kim's ring — a stunning 16.21-carat rectangular cut diamond, flanked by a 1.80-carat diamond on either side.
The ring is estimated to fetch between approximately £190,000 and £320,000, less than a quarter of the price that Kris was said to have spent at the time.
Kris and Kim were married for a mere 72 days in 2011 before the reality TV star filed for divorce. The Keeping Up With The Kardashians star was pregnant with her boyfriend Kanye West's child at the time that the divorce was settled.
Kim, who gave birth to the couple's adorable daughter North West in June, lost the engagement ring to her husband in the settlement after an 18-month battle.
At the time, the NBA player sought an annulment of their marriage, claiming it was based on fraud and that Kim had only married him for the sake of her reality TV show.