The Ferrari 330 GT 2+2 Coupe was bought by the Beatle in 1965 and is expected to sell for between 120,000 euros (£99,987) and 170,000 euros (£141,000).
Lennon's biographer, Philip Norman, described how car dealers descended on the singer's home when the news emerged that he had passed his test and offered him a ''gleaming smorgasbord'' of luxury cars.
But it was the Ferrari that caught his eye, with Lennon paying £2,000 for the car, It was soon joined by his trademark Rolls-Royce, complete with psychedelic paintwork, and a Mini.
The car will be sold by auction house Bonhams at a sale in Paris on February 5.
Last week the white two-piece suit worn by Lennon on the cover of the Beatles' Abbey Road album sold for more than £29,000 at auction.
The suit and other Beatles memorabilia were sold for $46,000 (29,400) on Saturday at the Braswell Galleries' annual New Year's Day auction to an online bidder who wished to remain anonymous. The suit had been expected to fetch as much as $120,000 (£76,800).
Owner Kathy Braswell told the Connecticut Post the holiday auction was their biggest event of the year.
The suit was custom made for Lennon by French designer Ted Lapidus.
Hank Gioiella of Darien paid $5,500 (£3,500) for a rusted green 1972 Chrysler station wagon Lennon and Yoko Ono owned.
The 30th anniversary of Lennon's death was on December 8.
