During his 18 years of ownership the Astros have experienced some of the greatest moments in the franchise's history, including winning the National League pennant in 2005 and the opening of Minute Maid Park in 2000.
"It's been a wonderful experience, a great ride and something we have thoroughly enjoyed," McLane said. "Our family has loved being involved with the Houston Astros."
Forbes Magazine earlier this year valued the Astros at $451 million and McLane has hired Steve Greenberg of Allen & Company, a New York based investment bank, to work with potential buyers.
"I had a number of calls today just on the news articles that have appeared," Greenberg said.
(Reporting by Mike Mouat in Windsor, Ontario. Editing by Nick Mulvenney)