The award is voted for via fans in an online poll, with supporters able to choose from eight nominations.
The young player of the year is chosen from players aged 24 and under who have excelled throughout the season.
Names such as Christian Pulisic, Trent Alexander-Arnold, and Dean Henderson have been included on the nominations list, alongside Jack Grealish and Anthony Martial, who both turn 25 before the turn of the year.
One player who is not on the list of eight is Arsenal wideman Bukayo Saka.
The 18-year-old has had a breakthrough season at Arsenal, playing a total of 26 games during the campaign.
Many of the matches came as a stand-in left-back after injuries to Kieran Tierney and Sead Kolasinac.
Why should you sign up?
In each football.london Arsenal bulletin, we’ll be bringing you the latest breaking news, transfer features and comment pieces, as well as the key talking points for fans.
We’ll also send special newsletters when big stories break or there’s a special event happening.
How do you sign up?
It’s easy and only takes seconds.
Simply type your email address into the box at the top of this article – or any article on the Arsenal section of football.london in fact – labelled ‘Get the biggest daily stories by email’ and click ‘Subscribe’.
And that’s it, you’re all set.
If you decide later that you no longer wish to receive the emails, simply follow the unsubscribe link in one of the newsletters – but we don’t think you’ll want to.
For more details, click here.
Later in the season, the teenager moved further up the pitch into more attacking areas where he continued to impress under Mikel Arteta.
Upon the announcement of the nominees list for the young player of the season, Gunners fans took to social media to show their anger at the decision.
Saka has been handed the number seven shirt for the upcoming new season, which outlines his development in the first team over the last 12 months.
There have also been reports that the teenager has caught the eye of England manager Gareth Southgate, who will be keeping his eye on the player ahead of the delayed European Championships next summer.
Saka scored a total of four goals and provided another 11 assists in all competitions this season.
Young player of the year nominees: Trent Alexander-Arnold, Jack Grealish, Mason Greenwood, Dean Henderson, Anthony Martial, Mason Mount, Christian Pulisic, Marcus Rashford.