The boxer sold the home for $1.3m in 1999 after he ran into financial difficulty when convicted of rape.
His mansion in the US state of Ohio was bought by a developer in December 2014, who will make it a church by the end of 2015.
According to the Daily Mail the house features five bedrooms, several living spaces, seven and a half bathrooms, a full kitchen, a mini-kitchen/washroom, two attached garages, one external garage, full size pool and Jacuzzi, tiger cages and a basketball court.
Johnny Joo, who photographed the mansion, told the newspaper it would make 'a perfect candidate for the church'.
He added: 'I've seen a few restorations throughout my work but nothing so contrasting as this.
"But it's definitely one of the more well-preserved structures I have been in through years of exploring and photographing abandoned places.
"It makes a perfect candidate for the church to move into and build their sanctuary. Structurally the home is wonderful and I can't wait to see the restoration completed over time.
"The group would like for Mike to attend the first gathering inside the churches sanctuary.
"I hope to help by sharing this story far and wide, maybe bringing his attention to this matter. It could be quite an experience for him walking through his former home, seeing it brought to a completely different light."
Mike Tyson once called this lavish but abandoned mansion home; now, it's going to be a church http://t.co/h6KQ7jQWoO pic.twitter.com/tySo5aYDJk
— Katherine Clarke (@KathyClarkeNYC) March 30, 2015