The global energy company has brought a 1,655-acre site in Greater Manchester to the market.
The site has the potential to deliver 185 acres of employment land and over 1,500 residential dwellings as part of a mixed use scheme.
Jones Lang LaSalle, agent for the site, described it as "one of the most significant development and investment opportunities in the UK."
Cllr Matt Colledge, Trafford Council leader, said: "The council has identified Carrington in its local plan and is looking forward to working with any new purchaser to deliver this opportunity.
"The council and the Association of Greater Manchester Authorities investment team will be supporting Shell and their selected purchaser throughout the process to bring forward this exciting development opportunity."
John Lafferty, associate director, planning and development, at Jones Lang LaSalle in Manchester is advising Shell.
Carrington is a brownfield site close to junction eight of the M60, south of Trafford.