The 27-year-old has scored 26 goals across all competitions for Tottenham this season and is seeking to regain the crown he won three years ago.
Kane is joined on the shortlist by his Spurs teammate Son Heung-Min, West Ham duo Declan Rice and Tomas Soucek and Chelsea's Mason Mount ahead of the ceremony, due to take place virtually this year on April 27.
Mount has also been nominated for Young Player of the Year after excelling in a turbulent season at Stamford Bridge which saw Thomas Tuchel replace Frank Lampard as head coach in January.
West Ham boss David Moyes heads the Manager of Year list after guiding West Ham to fifth place in the Premier League, just three points behind Chelsea in fourth who are London's highest-placed team.
Chelsea have 10 nominations across the nine categories with West Ham boasting six. Three of Arsenal's six nominations come in the Women's Super League Player of the Year category with last year's winner Vivianne Miedema joining Jennifer Beattie and Leah Williamson in addition to Chelsea pair Fran Kirby and Pernille Harder.
The LFAs are the curtain-raiser to the football awards season in England and have become a firm fixture in the sporting calendar while also raising funds for organisers Willow, a charity founded by former Arsenal goalkeeper Bob Wilson and his wife Megs which arranges special days for seriously ill young adults between 16 and 40.
Former England manager Hodgson has already been confirmed as the winner of Outstanding Contribution to London Football, an award previously won by Les Ferdinand, Glenn Hoddle, Ian Wright, Frank Lampard and Arsene Wenger among others.
James Olley will be on the voting panel for the 2021 London Football Awards.