Coutinho scored 13 goals and made seven assists in 31 games in the Premier League last season.
He has also shone on the worldwide stage, taking up a key role under Brazil manager Tite alongside Neymar Jr. and Gabriel Jesus.
Philippe Coutinho has been named in the shortlist for the Ballon d'Or.
Neymar was among the first five announced, as well as Luka Modric, Paulo Dybala, Marcelo and N'Golo Kante.
While Coutinho only has eyes for Barca at the moment, the La Liga club don't want to have to battle PSG for his signature in the summer and they are working round the clock to ensure he becomes a Barca player in the coming months.
Lionel Messi and Cristiano Ronaldo continue to dominate the billing while the 25-year-old's former Anfield team mate Luis Suarez has also been nominated.
Remarkably, the only Reds representative to win the award since its inception in 1956 is Michael Owen, who fended off Raul and Oliver Kahn in 2001.
Kenny Dalglish was crowned runner-up in 1983 while Steven Gerrard (2005) and Fernando Torres (2008) both finished third in the competition.