The paper reports the slippers -- one of only four pairs used on-screen that are known to have survived since the making of the 1939 film classic -- could sell for between $2 million and $3 million at an auction in December.
They are not the first pair of Dorothy's famous footwear to go under the hammer but, according to Entertainment Weekly, this particular pair has some "one-of-a-kind touches."
"The inside lining reads '#7 Judy Garland' and the leather soles are painted red on the bottom," the magazine said.
There is also apparently evidence that the slippers were worn by Garland in the close-up shots in which she memorably tapped her heels together to return to Kansas, the Los Angeles Times reported.
"They're also believed to be the same pair on the witch feet sticking out from under Dorothy's house earlier in the movie," the paper said.
The location of the movie memorabilia auction is yet to be released but the date has been set for December 15-17.