Chelsea duo Didier Drogba and Michael Essien as well as Barcelona's Cameroonian striker Samuel Eto'o will be competing for the African top award.
Abou-Treika was included among the initial five nominees but was ruled out on Sunday, CAF said on their official website.
Nigeria and Portsmouth striker Nwankwo Kanu has been also omitted.
The 28-year-old Abou-Treika was expected to be among the top three at least after a hugely successful year with Ahli and Egypt.
He played a pivotal role in Egypt's record-breaking fifth African Cup of Nations on home ground in February.
Abou-Treika also helped his club, Ahli, retain their local and African Champions League, finishing as top-scorer in both competitions.
The former Tersana player also guided Ahli to the Egyptian Cup title and local and continental Super Cup trophies.
Abou-Treika concluded the year in style as he scored three goals in the FIFA Club World Cup to lead Ahli to the bronze medal.
The winner will be revealed during the awards ceremony on the first of March in Ghana capital Accra.