Orlando Bloom's massive Malibu hideout is hitting the market for a whopping $12 million ... and we have pics of the pad!

He's owned the four-bedroom, five-bathroom property since 2011 -- he bought it with then-wife Miranda Kerr -- but told The Wall Street Journal that now is "the right time to let it go."

It's a sentimental move for the famous father, who said their son, Flynn, spent his early years in this home.

The 4,180-square-foot mansion has an incredible ocean view -- sitting above El Matador State Beach.

Orlando's asking for much more than he paid ... having bought the place for $2.5M.

That's because he's done a ton of renovations, telling WSJ they "cost more than twice" what he dropped on it.

The movie star says he completely redid the "higgledy, piggledy" ground floor in order to create an open kitchen and living space, complete with colorful tiles and bright cabinets.

And the outdoor pool overlooking the ocean? That's all Orlando, too.

The property has plenty of privacy -- it's part of a gated community -- as well as beach access.

It's being listed by Compass, and real estate agent Chris Cortazzo tells People its future owners are sure to love the "sense of sanctuary it provides."

The actor admitted to WSJ that he hasn't lived in the home for years ... instead settling down somewhere further north in California.