The third nominee on the shortlist will be Achraf Hakimi from Morocco.
The awards ceremony will be staged in Egypt tomorrow night.
Both Osimhen and Chukwueze enjoyed a great breakthrough 2019 for both club and country.
The two forwards from the U17 World Cup-winning team of 2015 used the past year to announce their arrival in Europe.
Centre-forward Osimhen scored a harvest of goals for Sporting Charleroi on loan from German Bundesliga club Wolfsburg to earn a big-money transfer to French Ligue 1 side Lille.
And he has since gone on to justify this move by featuring among the leading scorers in the French top flight so much so that the talk now is of a bigger club in a bigger league.
Eagles stars Samuel Chukwueze (left) and Victor Osimhen (right). Who wins Tuesday night?
‘Samu’, on the other hand, caught the eye for La Liga outfit Villarreal with his exciting runs and tricky from the right-side of attack.
He will make his Super Eagles debut last year, three years after Osimhen did but it was he who enjoyed more playing time at the 2019 AFCON in Egypt, where the Eagles finished third.
Osimhen has since filled in for the retired Odion Ighalo as the arrow head of Nigeria’s attack with a flourish of goals and he could now edge past Chukwueze for the prestigious CAF prize that has previously been scooped by the likes of Mikel Obi and Wilfred Ndidi.