Liverpool forward Mohamed Salah has been shortlisted, so has Bukayo Saka, Alexander Isak, Alexis Mac Allister, Tyrone Mings and Leandro Trossard.
Salah reserved his best performance of the month against Manchester United, scoring two goals and providing two assists in a 7-0 win at Anfield.
The Egypt international scored in a 2-0 win over Wolverhampton Wanderers.
Isak scored three goals in three matches for Newcastle United while Saka matched Salah's five goal involvements in March with three goals and two assists for Arsenal.
Trossard was at his playmaking best for Arsenal, recording five assists during the month. The Belgian became the first player in Premier League history to make a hat-trick of assists in the first half of an away game when Arsenal defeated Fulham 3-0 at Craven Cottage.
World Cup winner Mac Allister found the back of the net twice and gave an assist in his three appearances.
Mings marshalled an Aston Villa backline that kept two clean sheets and conceded just one goal from three games.
Manchester United forward Marcus Rashford won player of the month in February.
Elsewhere, Brighton boss Roberto De Zerbi, Unai Emery, Pep Guardiola and Mikel Arteta will battle for manager of the month.
