The right-back has been in superb for this season, with his pace and energy offering City both attacking and defensive brilliance.
He scored the winner against Sheffield United on his 100th Premier League appearance for City last weekend and was an ever-present in a backline that kept two clean sheets during the month.
Pep Guardiola has been impressed, describing Walker as an example to the rest of the squad.
“It was an incredible signing for Man City,” said Guardiola.
“I want to thank the club for bringing him here.
“Today top players are the ones who can play every three days. Before you sign a player, you have to look at his ability to play and play and play - the regeneration capability.
“Kyle is an example of that. I have a feeling this is the Kyle we have seen.”
Walker has been nominated alongside Che Adams (Southampton), Conor Coady (Wolves), Pablo Fornals (West Ham), Jack Grealish (Aston Villa), Thiago Silva (Chelsea) and Harry Kane and Son Heung-min (both Spurs).