The 63-year-old father of British footballers Phil and Gary Neville is to be charged with sexual assault.
Neville Neville is alleged to have assaulted the woman in the Greenmount area of Bury in the early hours of March 23.
He denies the allegation.
Nazir Afzal, Chief Crown Prosecutor for CPS North West, said: "Greater Manchester Police has investigated an allegation of sexual assault by Neville Neville in March 2013.
"I have reviewed all the evidence that they have gathered and have authorised the police to charge him with one count of sexual assault by penetration against a 46-year-old woman.
"He has been bailed to appear at Bury and Rochdale Magistrates' Court on 12 June 2013.
"This decision is made in accordance with the Code for Crown Prosecutors.
"I have concluded that there is sufficient evidence for a realistic prospect of conviction and that it is in the public interest to prosecute this case."
As well as working as an agent for his sons, Neville Neville is also a former director of League One side Bury FC.
His lawyer Simon McKay said: "I confirm Mr Neville has been charged with sexual assault.
"In response to the CPS's swift and public statement, I wish to state clearly that he strenuously denies the allegation."
He added: "Mr Neville intends to defend the allegation vehemently. Please respect the family's privacy at this difficult time."
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