The number was whittled down from 10 to five on Friday following an announcement by Caf in Accra.
Ayew who was the second runner up last year will be competing with Yaya Toure (Ivory Coast and Manchester City), Didier Drogba (Ivory Coast and Shanghai Shenhua), Alex Song (Cameroon and Barcelona) and Demba Ba (Senegal and Newcastle United).
“We are happy one of our own has made it this far. Andre Ayew has had a great season with both club and country," the Ghana FA communication director, Ibrahim Saani Daara told Goal.com Ghana.
"He has been a top performer from Africa and you realise he has been Olympic Marseille’s best player.”
The number will be slashed down to three before the awards ceremony in Accra on December 20.
Ayew’s father, Abedi Pele, has won the award three times.