The recipient of the award is decided by fellow Denmark internationals and has been handed out since 1963.
And the nominees are...
Billing faces competition from three others; FC Midtjylland's Mikkel Duelund, Robert Skov of FC Copenhagen and FC Nordsjælland midfielder Mathias Jensen.
Mikkel Duelund, labelled the "new Michael Laudrup," made the headlines at the start of 2018 after rejecting Premier League interest to stay in Denmark's top flight.
Robert Skov has bagged five goals and seven assists in the Superligaen this season, meanwhile, Mathias Jensen has also impressed in the Nordsjælland defence.
The Terriers' young star made 24 appearances in Huddersfield's promotion-winning 2016-17 season and has featured 10 times this term, the club's first ever in the top flight of English football.
Winner announced on Friday
The deciding jury announced their official verdict on Wednesday, stating: “The big midfielder was promoted to the Premier League with his club, Huddersfield Town F.C. in the summer of 2017.
"The 21-year-old has quickly adapted to the level of PL and delivers great performances against some of the world's best players week after week.
"This has also meant that he has become an important part of the Danish U21 national team.”
Billing has played for Denmark's U21s four times in their European Championship qualification group; the first in a 3-0 win over the Faroe Islands in August.
The winner will be announced on Friday evening by the Danish National Team Twitter account.