Maradona, who passed away in November 2020 at the age of 60, scored two goals to knock England out of the tournament in that quarter-final clash, the second being of the greatest of all time.
He described his opening goal in the quarter-final, where the ball clearly hit his hand, as "a little with the head of Maradona, and a little with the hand of God".
His second, though, saw him dribble past a host of England players and the score in a 2-1 victory before going on to win the tournament.
Midfielder Steve Hodge had swapped shirts with his rival in the tunnel after the game and has owned it ever since - but it will now go under the hammer at Sotheby's in a dedicated sale open for bidding from April 20.
However, the legendary forward's daughter, Dalma, says Hodge has a different shirt.
Apparently, Maradona had changed strip at half-time because of the heat at the Azteca stadium in Mexico City and Hodge has the one worn during the goalless first-half.
"That ex-England player thinks he's got my dad's second-half shirt but there's a confusion," she told Argentina's Metro radio station.
"He has the first-half top. I wanted to explain that to people so that whoever wants to buy it knows the truth."
When quizzed on the whereabouts of the shirt, she claimed Maradona wore after the half-time break, she said: "My mum hasn't got it. I know who has but I'm not going to say who's got it so as not to expose that person.
"All I can say is that the one that's being auctioned is not the one my dad scored his goals with."
Hodge, 59, said of the prized possession: "I have been the proud owner of this item for over 35 years, since Diego and I swapped shirts in the tunnel after the famed match.
"It was an absolute privilege to have played against one of the greatest and most magnificent football players of all time.
"It has also been a pleasure to share it with the public over the last 20 years at the National Football Museum, where it has been on display.
"The 'Hand of God' shirt has deep cultural meaning to the football world, the people of Argentina, and the people of England, and I'm certain that the new owner will have immense pride in owning the world's most iconic football shirt."
The current record for any shirt worn during a game is held by a baseball jersey worn by New York Yankees star Babe Ruth, which sold for $5.6million in an auction in 2019.