Many of the items were once displayed inside the 75-year-old park but have since spent years in storage.
Pieces include coin-operated player pianos, ride animatronics and western paintings.
The park hopes much of the memorabilia will not only go to the highest bidder, but to owners who will find a good home for a slice of Knott's history.
The auction date is set for March 31 with a preview day the week prior.
Watch Greg Lee's full report in the video player above.