The Scot's side have begun 2014 with three consecutive defeats but claimed four wins and a draw in December, though Jose Mourinho and Manuel Pellegrini are also nominatedManchester United boss David Moyes has been nominated for the Premier League Manager of the Month award for December.
The Scot's side have lost all three of their matches in all competitions in 2014 but claimed four wins and a draw from five league matches to end 2013.
Chelsea boss Jose Mourinho is also nominated having led his side to five wins from seven matches, drawing away to Arsenal and losing just once.
Manuel Pellegrini is also in contention after Manchester City claimed six victories and a draw from their seven matches in the month while continuing their blistering scoring form.
The final contender is Everton boss Roberto Martinez, who has overseen four wins from six matches, with a home defeat to Sunderland the only stain on their 2013 home league record.
Luis Suarez is the front-runner for the Player of the Month award, with Yaya Toure, Vincent Kompany, Alvaro Negredo, Ross Barkley and Theo Walcott also in contention.