The drawing 'Head of an Apostle' has been a part of Devonshire collection at Chatsworth for centuries and is to be sold at Sotheby's in December, The Guardian reported.
A similar Raphael drawing 'Head of a Muse' had sold at Christie's in 2009 for 29.2 million pounds.
Raphael, an Italian painter and architect of the High Renaissance along with Michelangelo and Leonardo da Vinci is considered the traditional trinity of great masters of that period.
Cristiana Romalli, Sotheby's senior director of Old Masters, called it "a paramount example of Raphael's draughtsmanship