The Togolese was nominated alongside Egypt's duo of Mohamed Abou-Treika and Amr Zaki, Michael Essien and Didier Drogba for the prestigious gong.
Ade, who hit 30 goals for the Gunners last season, is grateful to make the shortlist as he thinks he deserves being among Africa's best.
"I would be very happy if i win the prize. I think, to be honest, I deserve to be on that shortlist," he told Skysports.com.
"I have come so far. I have never dreamed of playing for Arsenal or being on the shortlist. To win it would make me very happy.
"I think I have done everything to deserve it. I have a chance to win it."
Adebayor is currently sidelined with an ankle injury sustained in the 2-1 defeat at Stoke ten days ago.
The 24-year-old led his nation to the final phase of the World Cup qualifiers, as they were drawn with Cameroon, Morocco and Gabon in Group A.