Ashwin claimed 24 wickets and scored 176 runs in three Tests last month.
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Apart from Ashwin, England skipper Joe Root and West Indies all-rounder Kyle Mayers have also been shortlisted for the month of February in the men's category.
In February, Ashwin played three Tests against England, claiming 24 wickets and scoring 176 runs across these games.
England Test captain Joe Root makes it to the list of nominations for the second successive month as he scored a total of 333 runs and took 6 wickets in three Tests against India.
From the West Indies, debutant Mayers played two Tests versus Bangladesh last month and scored a match-winning 210 to help his team successfully chase 395 in the first Test.
In the women's category, England opening batter Tammy Beaumont and all-rounder Nat Sciver and New Zealand batter Brooke Halliday have been nominated for the month of February.
Tammy Beaumont's unbeaten 72 helped England to a comprehensive seven-wicket victory over New Zealand. She played 3 ODIs and slammed half-century in each of these against New Zealand, aggregating 231 runs.
In 3 ODIs against England, New Zealand’s Brooke Halliday tallied 110 runs and picked up 2 wickets. Brooke also went on to become just the fourth woman to hit fifty in each of her first two ODI matches.
England's Nat Sciver took 5 wickets and amassed 96 runs in the 3 ODIs she played against New Zealand. Nat was the leading wicket-taker in the ODI series.
India’s Rishabh Pant and South Africa's Shabnim Ismail had won the inaugural player of the month awards in January for the men’s and women’s category, respectively.
(With ICC inputs)