The EFL have announced shortlists for awards in three divisions and 14 different categories for the 2016/17 season.
Leeds striker Wood is the leading scorer in the Championship with 22 league goals, one ahead of Newcastle's Gayle.
Knockaert has been influential in Brighton's promotion bid and is the division's highest-scoring midfielder with 13 league goals.
In League One, leaders Sheffield United have two players shortlisted for the Player of the Season award.
Forward Billy Sharp has scored 26 league goals while team-mate John Fleck has been an ever-present for the Blades and holds the highest number of assists in the division.
Scunthorpe's Josh Morris makes up the three shortlisted League One players with 19 goals from midfield.
The Sky Bet League Two Player of the Season shortlist includes two players from table-topping Doncaster Rovers, club stalwart James Coppinger and striker John Marquis, who has found the net 23 times already this season.
Luton's Danny Hylton makes up the shortlist, having been an instrumental figure in the Hatters' push for the play-offs.
It is a competitive line up for the Young Player of the Year with Reading's John Swift, Oxford United's Ryan Ledson and Exeter City's Ollie Watkins hoping to join an illustrious list of previous winners including Gareth Bale, Nathaniel Clyne and Dele Alli.
Off the pitch, Blackburn Rovers, Brighton & Hove Albion, Millwall, MK Dons, Carlisle United and Stevenage will be hoping to take home the Nickelodeon Family Club of the Year award, while the overall winner of Checkatrade Community Club of the Year and Supporter of the Year will also be crowned.
Judged by panels of leading experts from the football and media industry, the Contribution to League Football Award recognises long-standing and exceptional service to the league.
The late Jimmy Hill, Peter Shilton and Jimmy Armfield have all previously been recognised for their contribution.
Shaun Harvey, EFL chief executive, said: "It's been an exciting and action-packed 12 months for the EFL both on and off the pitch. There have been some incredible individual and team performances across the three divisions, entertaining the millions of fans who follow the EFL week in, week out.
"Off the pitch our clubs continue to have a positive and lasting impact in their local communities, using the power of football to deliver life-changing programmes and activities.
"The EFL Awards are a fantastic way to recognise the achievements of clubs, players, back room staff and fans and I would like to personally congratulate everyone who has been nominated and wish them all the best on the night itself."
The annual awards take place in London on Sunday April 9.
