Dede Ayew, Demba Ba, Didier Drogba, Alex Song and Yaya Toure were the initial final five in the running for the prestigious award, before CAF further shortened the list to three.
CAF initially named 34 players who they were considering for the award before cutting that down to 10 names.
The final three nominees were decided by votes from the head coaches and technical directors of the football associations affiliated to CAF.
The 2012 CAF African Footballer of the Year will be crowned at an awards ceremony in the Ghana capital, Accra, on 20 December.
Song’s first nomination for the award comes alongside former Barca man and last year’s winner Yaya Toure and this year’s favourite Didier Drogba, who already has two previous Football of the Year wins to his name.