Ihezuo, 15, scored six goals as the Nigerian Under-17 women fell short at the quarterfinal of the FIFA Under-17 World Cup, losing on penalties to France.
Her lethal finishing in front of goal was enough, however, to earn her the adidas silver boot at the tournament.
Ihezuo will face competition from favourite Equatorial Guinea's Genoveva Anoman, who helped her country to their second African title with six goals.
Also nominated for the award is South African veteran Portia Modise, whose Banyana Banyana finished second behind Equatorial Guinea at the AWC.
Nigeria's Super Falcons were also nominated for the CAF Women's National Team of the Year along with Equatorial Guinea and the Ghana Under-17 team.