Fellow Liverpool midfielder Philippe Coutinho has also been named in the best team of the 2015-16 campaign.
Can played a starring role in the Reds midfield helping his side progress to the final where they were eventually beat 3-1 by Sevilla in Switzerland.
Liverpool missed out on booking a place in the Champions League last season as a result. The Reds will not participate in any European football next season after also missing out on qualifying for the Europa league.
Can lost his first European competition final while Reds boss Jurgen Klopp lost his 5th final.
The Germany international of Turkish origin was thought to have ended his season after picking up an ankle injury but returned sooner than expected to put in an impressive display against Villarreal in the second-leg semi final tie.
The 22-year-old midfielder has made a full recovery and was called up to the Germany Euro 2016 squad.