The "Dream Team" is the most DOMINANT squad ever assembled ... and you could own the game-worn jersey Magic Johnson donned as Team USA steamrolled their way to a gold medal in 1992 ... IF ya got a few hundred thousand bucks.

TMZ Sports has learned the historic jersey is hitting the SCP Auctions block on Wednesday ... and it's expected to rake in a ton of money.

The '92 Summer Olympic USA basketball team is legendary -- they're literally the GREATEST basketball team of all-time -- and featured HOF'ers Magic, Michael Jordan, Larry Bird, Charles Barkley, Patrick Ewing, Clyde Drexler, John Stockton, Karl Malone, Chris Mullin, Scottie Pippen and David Robinson.