Meyiwa's nomination was confirmed on Wednesday and he is in line to become the first player to receive the accolade posthumously.
The goalkeeper was killed at the age of 27 following an altercation involving two attackers at a property on the outskirts of Johannesburg in Vosloorus.
South Africa Football Association president Dr Danny Jordan hoped that Meyiwa would "rewrite the history books from the grave".
"It is a great honour for any player to be nominated for any award, but for Senzo to be the last South African standing even after he has passed on is an even greater honour," Jordaan told SAFA.net.
"As the Football Association we are quite pleased that after such a great year where we had good returns on the field with all our teams qualifying for major continental competitions, we might start the new year on a high should Senzo win the award.
"What is even more exciting is that Senzo could rewrite the history books from the grave by becoming the first player ever to win a CAF award posthumously.
"We can't ask for a better start to a new year than that and I hope when the announcement is made, his name will be the one called out to lift the trophy.
"Should he win, I am confident it will spur Bafana Bafana on at the AFCON tournament in Equatorial Guinea."
The shortlist also features Akram Djahnit and El Hedi Belamieri of Algeria, Fakhreddine Ben Youssef of Tunisia and Firmin Mubele Ndombe of DR Congo.
The winner of the award is decided by votes from the national associations affiliated to CAF and will be announced in Lagos, Nigeria, on January 8.
