Cancelo is up for the EA Sports September Premier League Player of the Month, while Pep Guardiola has been nominated for the Barclay's Manager of the Month.
Cancelo played three Premier League games in September, assisting the winner at Chelsea and being part of a defence that kept three clean sheets.
He will compete with Cristiano Ronaldo, Antonio Rudiger, Allan Saint-Maximan, Ismailia Sarr and Mohamed Salah.
Pep will compete against former No.2 Mikael Arteta, Jurgen Klopp, Dean Smith and Graham Potter for the Barclays Premier League Manager of the Month.
While Arteta enjoyed a 100% record in September (three wins), Pep oversaw wins away to Leicester and Chelsea.
Voting closes at 12:00pm on Monday, 4 October.