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The 30-year old Nigerian international midfielder is up against Arsenal duo Thierry Henry and Patrick Vieira, Liverpool's Steven Gerrard, Alan Shearer of Newcastle United and Chelsea midfielder Frank Lampard to win the award.
Okocha joined Bolton two years ago from Paris Saint Germain following a successful World Cup campaign as skipper for his country and despite not having scored in the Premiership this season the player has been a leading figure not just for the Trotters but for Premiership football as a whole as his style and skills have been internationally recognised amongst a variety of people in the game.
Arsenal's Henry is the current favourite to win the award after an exceptional season which has put the currently unbeaten Gunners on course to win the Premiership title.
The winner will be announced on Sunday 25th April 2004 at the PFA Annual Dinner.