Skipper Sam Warburton, fellowflanker Dan Lydiate, wing Alex Cuthbert and scrum-half Mike Phillips are in contention for the award.
Ireland and Scotland provide two players apiece in the 12-man list but England aren't represented despite winning three of their four games so far.
Back row duo David Denton and Ross Rennie are the Scots hoping to make up for a poor 6 Nations results wise, while Jonny Sexton is joined by Irish newcomer Donnacha Ryan after the Munster lock starred in Saturday's win over Scotland.
A trio of Frenchmen are on the list, with wing Julien Malzieu, lock Yoann Maestri and back row Imanol Harinordoquy included, while Italian captain Sergio Parisse is also nominated.
For the second year running, the shortlist represents the 12 players who have been awarded the RBS Man of the Match decided by the host broadcasters from the first four rounds of the tournament.
The winner will be decided by a public vote on the official RBS 6 Nations website, with voting close at midnight on Sunday.
The result will be announced a week today on Wednesday, March 21.
Italy full back Andrea Massi won the honour in 2011, with Warburton the only player from the 2012 list to have been nominated last time out.