MK Dons midfielder Alli, 19, Middlesbrough striker Bamford, 21 and 21-year-old Norwich winger Redmond will battle it out for the prize, with the winner to be announced at the 10th annual Football League Awards on Sunday.
Alli’s performances for the Dons in the early stages of the season, which included a hat-trick against Crewe, prompted Tottenham to pay an initial fee of £5m for his services – but Spurs opted to immediately loan him back to Karl Robinson’s side where he has continued to shine.
Bamford joined Chelsea from Nottingham Forest in 2012 and has been sent out on loan to several clubs since – most successfully this season to Boro, where he has struck 16 Championship goals to help Aitor Karanka’s side to within sight of automatic promotion.
Norwich paid Birmingham an initial £2m for Redmond in 2013 and the England U21 international has begun to fulfil his potential this term with three goals and eight assists as the Canaries mount a promotion push of their own.
Former winners of the award include Real Madrid and Wales forward Gareth Bale, Aston Villa and England midfielder Fabian Delph and Crystal Palace and England winger Wilfried Zaha.
Other categories include the Family Club of the Year, Johnstone’s Paint Community Club of the Year, PFA Player in the Community, Capital One Supporter of the Year, the Mitre Goal of the Year, LFE Apprentice of the Year and the Sir Tom Finney Award