Scotland's Adam, who signed from Rangers for 500,000 pounds in 2009, was playing in the English second tier last season and has enjoyed a remarkable debut Premier League campaign although his side have slid down the table after a strong start.
He is joined on the list by Tottenham's Gareth Bale and Rafael van der Vaart, Arsenal's Samir Nasri, West Ham United's Scott Parker, Manchester City's Carlos Tevez and Manchester United's Nemanja Vidic.
Welshman Bale is the bookmakers' favourite for the award and along with Nasri has also been nominated in the Professional Footballers' Association (PFA) Young Player of the Year category.
"He (Bale) has been absolutely amazing really," Tottenham manager Harry Redknapp told reporters on Friday. "The kid has improved and got better and better.
"In all honesty for me he would win the award. That would be my choice out of all the players in this country. I think he deserves it this year."
Parker is the only Englishman on the shortlist.
