Mbappe came through the ranks at Monaco where he enjoyed a breakthrough season winning the Ligue 1 and reaching the semi-finals of the Champions League.
The 18-year-old joined Paris Saint-Germain this summer on a loan deal ahead of a £166million permanent move next year.
Mbappe scored 26 goals for Monaco in 44 games last season and created the record of being the only player in the history of the Champions League to score in each of his first four appearances in the knockout stage.
He leads the nominee's list for the 2017 Golden Boy alongside other exciting youngsters in Europe like Gabriel Jesus of Manchester City, Gianluigi Donnarumma of AC Milan and Ousmane Dembele of Barcelona.
The Golden Boy award is for a young player in Europe considered to be the best among his peers in a calendar year and given by Tuttosport.
Other nominees include Manchester United forward Marcus Rashford, Liverpool duo Dominic Solanke and Joe Gomez, Borja Mayoral of Real Madrid, Borussia Dortmund’s Christian Pulisic etc.
The award is voted for by journalists from across Europe.
Portugal and Bayern Munich star (now on loan at Swansea) Renato Sanches won the award last year.
Previous winners include Raheem Sterling (2014), Paul Pogba (2013), Isco (2012) Lionel Messi (2005), Cesc Fabregas (2006) and Mario Balotelli (2010).