The property is now called Sycamore Valley Ranch and has undergone extensive redevelopment since Jackson's death in 2009.
The 2,800 acre (1,100 hectare) site is now being sold jointly by Sotheby's and Hilton & Hyland.
The estate agents have warned off fans hoping to get a glimpse inside the piece of Jackson history, telling the Wall Street Journal anyone wanting to view the property would be subject to "extensive prequalification".
"We're not going to be giving tours," said Suzanne Perkins of Sotheby's International Realty.
Jackson bought Neverland in 1987 intending to create a fantasy land for children.
It is named after an island in the story Peter Pan, where children never grow up.
he bought it, Jackson built a zoo and fairground but it was closed to
the public in 2006 after he failed to pay his staff or maintain proper