The 29-year-old is the top scorer in all four divisions, having hit 29 league goals this season and 30 in all competitions.
Murray will be up against Blackpool midfielder Thomas Ince and Watford forward Matej Vydra for the award, which will be presented in London on Sunday evening.
Wilfried Zaha could make it a double for Palace after being nominated for the Young Player of the Year award.
Richard Heaselgrave, chief commercial officer at the Football League, said: "The Football League Awards are a great way to celebrate the work that goes on behind the scenes at each club, as well as the action that has taken place on the pitch each week.
"To make these shortlists is a real achievement. I would like to wish all those nominated the best of luck and we look forward to announcing the winners on the evening."
- Sports & Recreation