The final three shortlist was unveiled on CAF’s verified Twitter handle on Sunday.
Oshoala will go up against Njoya Ajara of Cameroon and current holder Thembi Kgatlana of South Africa.
“Asisat Oshoala, among three finalists of the African Player of the Year award. Go Zee!” Barcelona Ladies Twitter handle wrote.
Oshoala has won the Player of the Year award three times, in 2014, 2016 and 2017.
She was on target for Barcelona Ladies in their 3-1 home win against Tenerife to go five points clear of Atletico Madrid.