Henty's Doodle Cooma Arms Hotel is set to go up for auction at the end of the month.
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The hotel, the only pub in town, has changed hands several times over the past couple of decades, twice owned by the current publican, Trevor Jennings.
Mr Jennings said he was now ready to retire from the hotel business.
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"I owned the joint in '78, sold it in '82 and I bought it back in 2020," he said.
"I've owned three other pubs and I've enjoyed them all but this was always my favourite - it's a good little town.
"But I'm getting too old for the game now."
Brian McManus, the real estate agent looking after the sale, said the Doodle Cooma Arms was built in the 1880s.
The hotel, expected to stay operational through a sale, has 12 hotel rooms, a bandstand, dining room, large beer garden, lounge area and a head chef staying on to run the kitchen.
Mr McManus expressed full confidence the Doodle Cooma Arms Hotel would find a new owner when auctioned on August 26.
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