"I'm going to have a Christie's auction," Love, 42, tells AOL music Web site Spinner.com. "[My house] is like a mausoleum."
Love and Cobain wed in 1992 and had a daughter, Frances Bean, that year. Cobain committed suicide in 1994.
"My daughter doesn't need to inherit a giant ... bag full of flannel ... shirts," says Love, former frontwoman of the rock band Hole. "A sweater, a guitar and the lyrics to '[Smells Like] Teen Spirit' — that's what my daughter gets. And the rest of it we'll just ... sell."
No date has been set for the auction, AOL publicist Kurt Patat told The Associated Press on Monday.
Love, whose upcoming album is titled, "Nobody's Daughter," says friends support the idea.
"Everyone's been positive and behind me on it," she says. "We'll make a lot of money and give a bunch of it to charity."
She'll have a chance to move on from Cobain, too.
"I still wear his pajamas to bed. How am I ever going to go form another relationship in my lifetime wearing Kurt's pajamas?"