The Reds pair are included on a 25-player shortlist for the accolade, which is decided by a panel of journalists and organised by Italian newspaper Tuttosport.
The prize – which will be presented to the winner next month – acknowledges the continent’s best U21 player during the calendar year, with Gomez and Solanke among the contenders.
Gomez has re-established himself in the Liverpool senior side this season following a lengthy rehabilitation from injury, and was named England U21 captain in August.
Solanke joined the Reds in the summer, having helped England to glory at the FIFA U20 World Cup and been named the player of the tournament in South Korea.