Wood, who plays for Leeds is one of three finalists along with Newcastle forward Dwight Gayle and Brighton winger Anthony Knockaert.
25 year old Wood, who will lead his country against Fiji in their World Cup qualifier in Wellington tonight, has scored 24 league goals this season.
Gayle has 21 goals from 28 league games since joining leaders Newcastle from Crystal Palace.
Former Leicester man Knockaert has scored 13 goals to help Chris Hughton's side to second in the table.
The awards will be presented in London on April 9th.
Player of the Year shortlists
Championship: Chris Wood (Leeds United), Dwight Gayle (Newcastle United), Anthony Knockaert (Brighton & Hove Albion).
League One: Billy Sharp and John Fleck (Sheffield United), Josh Morris (Scunthorpe).
League Two: John Marquis and James Coppinger (Doncaster Rovers), Danny Hylton (Luton Town).
Young player: John Swift (Reading), Ryan Ledson (Oxford United), Ollie Watkins (Exeter City).
Photo: Supplied: Leeds United Chris Wood