Television shrink Dr Phil McGraw and his wife Robin McGraw have posted the 'for sale' sign outside their $16.5 million Beverly Hills mansion, Breaking Celebrity News can reveal.

There have been whispers that the couple has been privately trying to sell the 8 bed, 7 baths, 11,036 sq ft Mediterranean style villa for the past two years, but now it is officially on the market.

The tough talking Texan’s home is a favorite with celebrity tour buses, and his nearby neighbors in the star-packed enclave include Madonna, Simon Cowell and Tom Cruise.

Dr Phil - who recently had his famous moustache shaved off by Oprah Winfrey – bought the property for $7.5 million in cash back in 2002.

And it boasts some fabulous features including: a formal living room, dining room, library, family room gourmet kitchen, breakfast room, media room, den, library, parking for five cars, swimming pool and a two bedroom guest property.

There are also private offices, a screening room and a billiards room for Dr. Phil to entertain his celebrity pals.