Gareth Bale and Samir Nasri have been nominated for both the Professional Footballers' Association Player and Young Player of the Year awards.
Tottenham's Bale and Arsenal's Nasri are among seven picks for both categories.
Charlie Adam, Scott Parker, Carlos Tevez, Rafael van der Vaart and Nemanja Vidic make up the senior contenders.
Arsenal and England midfielder Jack Wilshere is among the young player nominations.
The 19-year-old is also joined by Everton's Seamus Coleman, Manchester City goalkeeper Joe Hart and Manchester United pair Javier Hernandez and Nani.
Bale lit up the early part of the season that included two electrifying performances against Inter Milan in the Champions League, whereas Nasri has had his best season at the Gunners, scoring 14 goals.
"It took Gareth some time after he came to Tottenham from Southampton - in fact he had some adverse publicity - but suddenly he has blossomed," said PFA chief executive Gordon Taylor.
"He has come through and more than fulfilled everyone's expectations and I think he looks real value for money at just £5million. The impact he has made, the goals he has got, he has been quite outstanding."
Blackpool midfielder Adam has played his part in making Ian Holloway's side one of the most entertaining teams in the Premier League this season, highlighted by his wide range of passing.
Parker has been the model of consistency at West Ham, with his performances re-establishing him in the England team, while Van der Vaart has scored some superb goals since his arrival from Real Madrid last summer.
"You would have to say, without doubt, Scott has been West Ham's outstanding player and if they stay in the Premier League, you would have to say he would have been very much responsible for that," Taylor added.
"Things looked quite hopeless at times for West Ham but he managed to keep them going."
Vidic, too, has had a strong season for United where injuries to other defenders have attempted to scupper his team's season.
But United are still on course to repeat their 1999 feat of winning a Premier League, FA Cup and Champions League treble and the contribution of Hernandez and Nani has been crucial, with the pair scoring 26 goals between them.
Although facing stiff competition from 22-year-old Hernandez, Wilshere will be favourite to pick up the Young Player of the Year award after showing his growing potential in Arsenal's last-16 Champions League games against Barcelona.
"He's not the biggest or the tallest but he has a real zest for the game, and is certainly not afraid to make a tackle," Taylor added.
"His control, his left foot, his perception and vision are exceptional. The world of football is really at his feet."