Caf also decided that the categories for Player of the Year Based in Africa and for referees should be removed from list of awards.
However it is yet to give its reasons for the decision.
Liverpool duo of Mohamed Salah and Sadio Mane are joined by Borussia Dortmund striker Pierre-Emerick Aubameyang on the three-man list.
Egypt’s Salah has already won the 2017 BBC African Footballer of the Year award, while Gabon’s Aubameyang won the Caf award in 2015.
Senegal’s Mane has been included in the Caf Team of the Year for 2015 and 2016.
The list was cut from 11 nominees that Caf announced in November.
Hugo Broos, who led Cameroon to the Africa Cup of Nations title in February, missed out on the final three-man list after being named among the original five nominees.
Last year’s winner Riyad Mahrez of Algeria and Leicester City missed out on the original list of nominees.
Caf also released the shortlists for several of its other award categories, which will be handed out on 4 January in Accra, Ghana.
African Player of the Year:
Mohamed Salah (Egypt and Liverpool)
Pierre-Emerick Aubameyang (Gabon and B. Dortmund)
Sadio Mane (Senegal and Liverpool)
Women’s Player of the Year:
Asisat Oshoala (Nigeria and Dalian Quanjian)
Chrestina Kgatlana (South Africa and UWC Ladies)
Gabrielle Aboudi Onguene(Cameroon and CSKA Moscow)
Women’s National Team of the Year:
Coach of the Year:
Gernot Rohr (Nigeria)
Hector Cuper (Egypt)
L’Hussein Amoutta (Wydad Athletic Club)
National Team of the Year:
Club of the Year:
Wydad Athletic Club
Youth Player of the Year:
Krepin Diatta (Senegal and Sarpsborg)
Patson Daka (Zambia and Liefering)
Salam Giddou (Mali and Guidars)
Source: BBC Sport