Jackson, who died in 2009, reportedly wrote 600 pages of notes about his struggles during the late eighties through 2007, Daily Express reported.
He also accumulated sketches and documents in an attempt to correct how history was written about him.
During those two decades, Jackson was rarely out of the headlines, not least for paying off Jordie Chandler 12 million pounds amid child-sex allegations.
His admission that he shared his bed with children led Jackson to be accused but acquitted in 2005 of molesting Gavin Arvizo.
Anguished, then Jackson flew to the Middle East where he began writing the manuscripts, where a former business contact has locked them away.
The wealthy associate is in two minds over releasing the book, which is not complete and would need to be fleshed out to make a full autobiography.
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Jackson wrote one biography, 'Moonwalk', which had to be heavily edited because of attacks on family members.
"The manuscript covers a raft of Michael's adventures and business dealings. He makes it clear that he is the father of Prince and Paris. Michael wrote the book because he never got a chance to tell his story and at some stage needed to express his feelings on everything.
"The book addresses the child molestation at Neverland, insisting how he felt sickened that he was accused of doing that. Michael also talks about Jordie even though both parties agreed a gagging order when they settled in 1993," a source said.
Jackson died after his doctor, Conrad Murray, pumped him with anaesthetic Propofol days before his comeback tour in June 2009.