Defender Virgil van Dijk has also been shortlisted for the Player of the Month award following a series of impressive displays at the heart of the Southampton defence.
Despite a defeat to Norwich City kicking off 2016 for Saints, Koeman’s men enjoyed success against Watford, West Bromwich Albion and Manchester United during January.
After beating Watford 2-0 and West Brom 3-0 at St Mary’s, Saints picked up a third clean sheet in a row with a 1-0 victory at Old Trafford thanks to Charlie Austin’s headed winner late on.
Koeman is up against Manchester City’s Manuel Pellegrini, West Ham United boss Slaven Bilic and Tottenham Hotspur manager Mauricio Pochettino for the Manager of the Month award.
Should Koeman win, the Dutchman will become the first Southampton boss to be named Premier League Manager of the Month on three separate occasions.
Van Dijk, who joined from Celtic in the summer and has made a real impression in the Premier League, played his part in all three of those successes – games in which Koeman opted to play three at the back.
The Dutch defender made 16 key interceptions, blocked two shots and made 34 clearances as Saints picked up three successive wins to move into the top half of the Premier League.
24-year-old van Dijk has been nominated alongside Jermain Defoe, Sergio Aguero, Roberto Firmino, Deli Alli and Kasper Schmeichel for the Player of the Month award.
The winners of both awards will be announced at 6am on Friday 5th February.