The BCCI on Saturday recommended India pacers Mohammad Shami and Jasprit Bumrah, all-rounder Ravindra Jadeja and women's team spinner Poonam Yadav for the Arjuna award.
The decision was taken during the Supreme Court-appointed CoA meeting in the capital.
The 25-year-old Bumrah, who is currently playing in the IPL for Mumbai Indians, is a regular across all three formats for India and has been recommended for the coveted award after impressive Test tour of South Africa, England and Australia. He will be spearheading India's campaign in the upcoming World Cup in the UK.
Bumrah's bowling partner Shami has been a crucial cog in the Indian bowling set up while all-rounder Jadeja has also made a comeback in the limited overs team and has been named in the 15-member squad for the World Cup in England and Wales.
India opener Shikhar Dhawan, who was recommended last year by the BCCI but was not short-listed by the awards panel, doesn't feature among the board's choice this year.
The 27-year-old leg-spinner, Poonam, is the fourth name to be nominated. She has picked up 63 wickets from 41 ODI's and 74 wickets from 54 T20 games.
Saba Karim, BCCI GM - Cricket Operations, proposed the names of all four players to the COA.
India captain Virat Kohli was bestowed with the prestigious Khel Ratna, India's highest sporting honour last year while women's team opener Smriti Mandhana got the Arjuna.
This year, leggie Yadav was BCCI's only choice among female players.
"There was no other deserving candidate to be honest. Most of the senior players have already got the award while it is still early days for the youngsters even though they have done well at the global stage," a BCCI official told PTI.