The Nigerian international was part of the 30 nominees alongside her compatriot, Chiamaka Nnadozie, but the Paris FC goalkeeper did not make it onto the final shortlist.
Oshoala's performance for Barcelona Femeni makes her the favourite to win the 2023 edition and retain her title.
The 29-year-old striker could add to her five CAF Women's Player of the Year awards if she clinches this edition ahead of South African forward, Thembi Kgatlana and Zambian star, Barbara Banda, as per CAF's official handle on X.
Kgatlana's performance for Racing Louisville and the South African national team makes her a serious contender for the award. Banda, on the other hand, has been a top player for Chinese Women's Super League side, Shanghai Shengli.
Nnadozie might have missed out on the Women's Player of the Year award final list, but she's up for the Women's Goalkeeper of the Year award.
The Super Falcons goalkeeper will compete with South Africa's Andile Dlamini and Moroccan goalie, Khadija Er-Rmichi for the award.
The 2023 edition of the awards will take place in the city of Marrakech, Morocco and is scheduled for Monday, December 11.
The final 3 of the Women’s African Footballer of the year shortlist.
— Mimi Fawaz (@MimosaFawaz) December 7, 2023
•Asisat Oshoala ????????
•Thembi Kgatlana ????????
•Barbara Banda ????????
Who will be crowned the Queen ???? of African football next week Monday in Marrakesh. pic.twitter.com/6F19lVK04G