|Arcade Fire won the award in 2011 for The Suburbs|
The list of 10 features three repeat appearances alongside seven newcomers for the award, which "celebrates and rewards creativity and diversity in Canadian recorded music".
It is similar to the UK's Mercury Music Prize and past Album Of The Year winners - who land $30,000 include Arcade Fire.
This year's shortlist is:
Godspeed You! Black Emperor – ‘Allelujah! Don’t Bend! Ascend!
Zaki Ibrahim – Every Opposite
Metric – Synthetica
METZ – METZ
Purity Ring – Shrines
Colin Stetson – New History Warfare Vol. 3: To See More Light
Tegan and Sara – Heartthrob
A Tribe Called Red – Nation II Nation
Whitehorse – The Fate of the World Depends on This Kiss
Young Galaxy – Ultramarine
Founder and executive director of the awards, Steve Jordan, said: "This moody and exciting list is proof that the ‘Canadian sound’ has no stylistic boundaries."
The awards bash takes place in Toronto on September 23 and Spotify users can visit https://play.spotify.com/user/polarismusic prize to sample the nominated acts.