The Walkabout Creek Hotel, in the small town of McKinlay in the state of Queensland, was made a popular tourist attraction by the film, but owner Paul Collins says he is looking for a change after 23 years.
"I've been running it for 23 years, its time for a change and a break," the BBC quoted Collins as saying.
"It's a different pub, it's in a remote location. It's not everyone's cup of tea. But there has been some pretty strong interest to date. It's a good pub," he added.
In the movie, the Walkabout Creek Hotel is the favourite watering hole for knife-wielding hero Mick "Crocodile" Dundee played by Paul Hogan.
The hotel, built in 1900, was originally known as the Federal Hotel but later changed its name to that used in the film, and it is packed with memorabilia and photographs from the hit film. (ANI)