The public can submit proposals at www.xinhuanet.com and www.qq.com starting Wednesday and the name will be unveiled in November after several selection rounds, said Wu Weiren, chief designer of China's moon probe programme, Xinhua reported.
"The spacecraft, designed with a mass of 140 kg, will be fuelled by solar energy," Wu said.
He added that some prize winners would be invited to watch the launch of Chang'e-3 in person.
The craft will be able to endure vacuum conditions, intense radiation and extreme temperatures ranging from minus 180 degrees Celsius to 150 degrees Celsius on the surface of the moon, the designer said.
The spacecraft will be equipped with devices such as a panorama camera and radar measurement equipment, Wu said.
It will run automatically and carry out patrol and detection missions on the lunar surface, Wu added.
The Chang'e-3 moon probe is expected to land and stay on the moon as part of the second stage of the country's lunar probe programme, marking the first time a Chinese spacecraft would land on the surface of an extraterrestrial body.
China launched Chang'e-1 in 2007 and Chang'e-2 in 2010. The first probe gathered a large amount of scientific data and a complete map of the moon while the second created a full high-resolution map of the moon and a high definition image of the Sinus Iridium, one of the moon's features.