The right-back, who celebrated his 20th birthday on Sunday, enjoyed a breakthrough season in 2017-18, helping the Reds reach the Champions League final and then travelling to the World Cup with England.
To date, Alexander-Arnold has played 54 games for his boyhood club.
The inaugural Kopa Trophy recognises the talent of players under the age of 21.
2018 Kopa Trophy nominees
Trent Alexander-Arnold (England/Liverpool), Houssem Aouar (France/Lyon), Patrick Cutrone (Italy/AC Milan), Ritsu Doan (Japan/Groningen), Gianluigi Donnarumma (Italy/AC Milan), Amadou Haidara (Mali/Red Bull Salzburg), Justin Kluivert (Netherlands/AS Roma), Kylian Mbappe (France/Paris Saint-Germain), Christian Pulisic (USA/Borussia Dortmund), Rodrygo (Brazil/Santos).