Former UKIP leader Nigel Farage features alongside the likes of US President-elect Donald Trump, Russian President Vladimir Putin, scientists who have developed technology to edit DNA and Beyonce among the finalists.
Mr Farage said earlier that 2016 will be remembered as the year the "little people decided they would assert themselves and could actually beat the establishment".
Nigel Farage is on the shortlist for Time magazine's prestigious person of the year award.
The American news magazine appeared to give Mr Farage much of the credit for Brexit.
Announcing the 11-strong shortlist, which was chosen by the magazine's editors, the publication said: "As head of the UK Independence Party, Farage was a face of the successful campaign for Britain to leave the European Union, positioning the referendum as the start of a global populist wave against the political establishment."
The winner will be announced on Wednesday.
After hearing the news, Mr Farage told Sky News he "can't really believe it after all these years of abuse".
He was speaking during a visit to Sleaford in Lincolnshire ahead of Thursday's by-election, in which the Conservatives are defending a majority of more than 24,000.
Asked if his party's candidate, Victoria Ayling, stands a chance of winning, Mr Farage said: "I don't know, it's 2016, why predict anything? Only an idiot predicts things in 2016 because it's been so full of upsets.
"It's a big opportunity for voters to say to the Prime Minister: We voted for Brexit, we didn't vote for hard Brexit, we didn't vote for soft Brexit, we voted for Brexit ... and would you please get on with it."
Mr Farage again highlighted his closeness with Mr Trump and reiterated his belief he could perform an ambassadorial role for the UK with the President-elect's administration.
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