The singer claimed the prize back in 1996, when "Wonderwall" was named Best Song at the annual ceremony, but now Liam is parting ways with the gong for a good cause.
Sharing a snap of the trophy on his Instagram Story timeline on Thursday, June 04, he wrote, "Oasis MTV award for Wonderwall award up for auction in support of @eatwellmcr (sic)."
Eat Well MCR is a Manchester, England based non-profit founded earlier this year to help feed city residents in need during the global health crisis, and Liam's donation looks set to bring in thousands for organisation officials.
The auction began on Thursday, and within hours, it had attracted bids of more than $16,400 (£13,000).
The description for the sale reads: "Win this incredible piece of pop-culture donated to the Eat Well Mcr fundraiser by Manchester rock 'n' roll icon Liam Gallagher. Liam has kindly donated his MTV best song 1996 award for 'Wonderwall' to help raise money for Eat Well MCR. This is the chance of a lifetime to own a piece of musical history!".
"We can't thank you enough for this incredible donation Liam!"
Elbow frontman Guy Garvey is also lending his support to the cause by offering fans the chance to win "a pint, or two" with the musician, while fellow rockers Doves have donated special memorabilia, including an acoustic guitar, and rare, signed concert posters, to raise funds, too.