About 350 lots will be auctioned by his estate and his widow, Dame Joan Plowright, 94, the Golden Globe and Tony award-winning actor.
They come from the couple's Sussex home and have never been on the market. While some reflect their contribution to the dramatic arts, others are more personal items.
The exaggerated nose, along with a hump and a rubber glove for a withered left hand, enhanced Olivier's snarling performance as Richard III in the 1955 film that he also directed and produced.
"I wanted to look the most evil thing there was," he recalled in his book On Acting, published in 1986, three years before his death aged 82.
The nose is preserved in a box with a note suggesting it was a gift on his 80th birthday from one of the film's makeup artists. It is estimated to sell for about £1,500.
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