Babe Ruth -- Yankees Contract Up for Auction ... No Booze, In Bed By 1 AM'

The very first contract Babe Ruth negotiated with the NY Yankees is about to hit the auction block -- which specifically outlines the MLB legend was BANNED FROM BOOZE and had a 1 AM bedtime.

TMZ Sports has learned ... the contract -- hand-signed by George Herman Ruth on March 10, 1922 -- is being auctioned off by Goldin Auctions ... and the sellers tell us they're expecting to fetch over $1 mil.

The terms of the 3-year deal are pretty interesting ... Babe agreed to league-high $52k-per-season ... but there were a couple of catches.

For instance, Babe had to fork over a $30 deposit for his uniform and was not allowed to play any other sport while under contract.

But the big one ... a clause that was added which spelled out that Babe was to "refrain entirely from the use of intoxicating liquors and that he shall not during the training and playing season in each year stay up later than 1 o'clock A.M. on any day without the permission and consent of the club's manager."

At the time Babe signed the deal, he had already been with the Yanks for 3 years ... but was playing under the contract he signed with his previous team, the Boston Red Sox.