The collection will include Carneal's 1987 Twins World Series Championship gold ring valued at $7,500 and his 1965 Twins American League Championship gold ring estimated at $10,000.
The Carneal family consigned those items. It will be the first time the items are up for auction.
The live auction will be held Tuesday at Duke Energy Convention Center in Cincinnati as part of the T-Mobile All-Star FanFest. More than 450 items will be up for auction.
Known for his warm voice and fluid style, Carneal was lead radio broadcaster for the Twins from 1962-2006. He received the Ford C. Frick Award from the Hall of Fame in 1996.
Carneal died in 2007.