The six finalists are Özil, Christian Benteke, Eden Hazard, Yannick Bolasie, Esteban Cambiasso and Ander Herrera.
Özil has been in impressive form since returning from injury and Arsenal have won 14 out of the last 16 games Özil has featured in.
The Gunners have won eight consecutive league games and find themselves in second position in the Premier League table.
The 26-year-old scored a superb free-kick in the 4-1 win against Liverpool and also provided an assist. Özil also put on a fine performance in the 1-0 win against Burnley.
The World Cup winners real test however, will come on Sunday as Arsenal prepare to take on London city rivals Chelsea.
The Gunners would give themselves a glimmer of hope in the title race with a win against the league leaders.
Özil was also selected as Arsenal Vitality Player of the Month in February.