The 51-year-old Hall of Famer has already broken ground on 40 acres in California City, a remote town of 15,000 people southwest of Death Valley.
As of January 1, California is the sixth state to permit recreational use of marijuana.
The Tyson ranch will not only provide a ideal field for growing tonnes and tonnes of weed but will also be used as the place for studies related to marijuana and its plethora of benefits, especially the clinical ones.
Additionally, Tyson Holistic - which operates the ranch - makes a strong effort to employ men and women who have served in the armed forces.
Hickman told TheBlast.com that the undeveloped land will be cultivated and that Tyson Ranch will be an "oasis".More news: How legal sales of recreational marijuana will affect workplaces and other spaces
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The rest of the acreage will feature "glamping" campgrounds and cabins, a hydro-feed plant, a "Tyson Cultivation School", a hydro-feed plant and supply store, an amphitheater, an extraction facility and an edible factory.
Former heavyweight boxing champion Mike Tyson was disqualified after biting part of Evander Holyfield's ear off during a 1997 fight.
A Tyson Cultivation School will be opened to teach growers the latest ways to ideal their strain of cannabis.
"He always wanted me to smoke weed (marijuana) with him, and I never did it, and I wish I did", Tyson said in a recent phone interview.
Tyson admitted that he declined the invitation because he was a "closet smoker" and didn't want word getting out that he used the drug.
He also said that not smoking with Tupac was one of the biggest regrets of his life.
He also said he was using marijuana when he was busted for cocaine possession in 2007, a crime for which he was sentenced just 24 hours in jail.