Manchester City striker Aguero has been nominated for both the Player of the Year and the Young Player award, to cap an excellent debut season in the Premier League.
The Argentina international arrived at the Etihad Stadium from Spanish club Atletico Madrid last summer, and has netted 21 goals as City have made an assault on the league title.
Aguero's City team-mates, goalkeeper Joe Hart and Spanish playmaker David Silva, have also been nominated.
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Manchester United's 24-goal forward Wayne Rooney, who has been at the forefront of their excellent league performances this season, is also in with a shout, whilst Tottenham's combative midfielder Scott Parker rounds off the shortlist.
The young players' list consists of Aguero and five of the brightest young British talents currently plying their trade in the top-flight - four of whom will be optimistic of taking their place at this summer's European Championships with England.
Tottenham's Welsh winger Gareth Bale, winner of the senior Player of the Year award last season, finds himself on the junior list alongside his fellow Spurs speedster Kyle Walker, Chelsea striker Daniel Sturridge, Manchester United's Danny Welbeck and the highly-rated Arsenal midfielder Alex Oxlade-Chamberlain.
PFA Player of the Year nominees: Sergio Aguero (Manchester City), Robin van Persie (Arsenal), Wayne Rooney (Manchester United), Joe Hart (Man City), Scott Parker (Tottenham), David Silva (Man City)
PFA Young Player of the Year nominees: Sergio Aguero (Man City), Gareth Bale, Kyle Walker (both Tottenham), Alex Oxlade-Chamberlain (Arsenal), Daniel Sturridge (Chelsea), Danny Welbeck (Man Utd)