The Egyptian is one of six Premier League players on the shortlist for the prize, having registered three goals during the month.
The trio of Sadio Mane, Diogo Jota and Mohamed Salah has already scored 17 goals in all competitions for Liverpool this season so far.
Phil Foden cancelled out Sadio Mane's opener before Mohamed Salah reinstated Liverpool's lead, and then Kevin De Bruyne equalized once again for Manchester City.
Liverpool registered an impressive 5-1 victory over FC Porto at Estadio do Dragao on Tuesday in the Champions League Group B match.
Liverpool thrashed FC Porto 5-1 at Estadio do Dragao in the Champions League group stage fixture on Tuesday.
Sadio Mane became only the 18th player in Liverpool's history to score a century of goals when he scored against Crystal Palace on Saturday (August 19).
Goals from Sadio Mane, Mohamed Salah and Naby Keita helped Liverpool register a 3-0 victory against Crystal Palace in the Premier League.
The scorers on the day for Jurgen Klopp’s men were Mohammed Salah, Sadio Mane, and Naby Keita, who scored a wondergoal.
Having won three of their four matches in the new Premier League season, Liverpool will next take on Crystal Palace on the weekend.
The Merseyside Reds overcame a 1-2 deficit at half time to win 3-2 against AC Milan in their Champions League opener.