Munch created several versions of the work using different techniques and the BBC said this is the only one owned by a private collector. It will be displayed in London for the first time before the auction in New York this May.
A Sotheby's representative told the BBC the painting is expected to sell for about $80 million.
"I have lived with this work all my life, and its power and energy have only increased with time," current owner, Norwegian businessman Petter Olsen -- whose father, Thomas, was a friend and patron of Munch -- told the BBC.
"Now, however, I feel the moment has come to offer the rest of the world a chance to own and appreciate this remarkable work, which is the only version of 'The Scream' not in the collection of a Norwegian museum."
Notable deaths of 2014 [PHOTOS]