Kylian Mbappe scored in PSG's 3-2 loss to Liverpool at Anfield in the Champions League in September
Liverpool's Trent Alexander-Arnold and Manchester City's Phil Foden are on the on the shortlist for 2018 Golden Boy .
Established by Italian newspaper Tuttosport in 2003, the award is given to the best young player in Europe under the age of 21.
World Cup winner Kylian Mbappe could become the first two-time winner after picking up the award last year.
Everton's Tom Davies and Manchester United's summer signing Diogo Dalot also make the 40-man shortlist.
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World Cup 2018: Kylian Mbappe goal stretches lead
Full-back Alexander-Arnold, 19, played in Liverpool's Champions League final defeat to Real Madrid last season and was part of Gareth Southgate's England World Cup squad.
Foden, 18, is yet to make his senior England debut, but won the Golden Ball at the Under-17 World Cup last year and scored his first senior goal in Manchester City's Carabao Cup win at Oxford on Wednesday.
Previous winners of the award include Mbappe's PSG team-mates Neymar and Edinson Cavani as well as Lionel Messi, Wayne Rooney and Paul Pogba.
See the full shortlist
Source: bbc.com