Winner of the award in October was Arsenal who scored five goals in the month.
The nominees include West Ham midfielder Felipe Anderson, Everton defender Lucas Digne and Tottenham midfielder Moussa Sissoko.
Other nominees are Liverpool defender Andrew Robertson and another Manchester City midfielder David Silva.
Favourite to win the award for the month is Sterling who has been in scintillating form scoring goals for fun and creating assists.
Voting has started and the winner will be announced on Thursday, December 6 after the conclusion of the midweek matches.
The nominees for the Goal of the Month award and Manager of the Month award are expected to be announced.