The photo shows the view from Lennon's New York home
The photograph was taken by Lennon's widow Yoko Ono and is one of only six prints in existence.
It is expected to fetch up to £10,000 when it is put up for sale at Bonhams in London on Wednesday.
The photograph is of Lennon's trademark spectacles beside a glass of water on a table set against the New York skyline as seen from the couple's flat.
It was taken after Lennon was shot by Mark Chapman outside the Dakota Building in Manhattan in 1980.
The composition of the photograph represents the ancient Oriental tradition of the Butsudan, or household family altar.
Tribute
In Buddhist homes, the Butsudan serves as a home for the souls of deceased family members who are worshipped daily.
Ono arranged the photograph to create the same tribute, the glass of water representing the food and drink intended to feed the souls of the dead.
The six copies of the photograph were printed in 1994, under Ono's supervision.
Four of them were given to close friends of the couple and Ono kept one for herself, which was later used on the front cover of her album Seasons of Glass.
The sixth was exhibited in New York and later sold to Johnnie Walker, a fundraiser for Artist Residencies of Tokyo (ART).
He agreed to abide by Yoko's express wish that should he ever sell it, all the proceeds would be donated to charity.