Li Na was nominated Sportswoman of the Year in the 2015 Laureus World Sports Awards, becoming the first Chinese to become finalist for the said sports body's top award.
The two-time grand slam winner from Wuhan was ranked no. 2 after winning the 2014 Australian Open but had to retire due to knee injuries.
The 32-year-old is now five months' pregnant and is establishing a tennis academy for children.
Former short-track speedskater Yang Yang, who will be voting for the winner, described Li Na's career as one that "lots of people can only dream about."
The awards ceremony is scheduled for April 15 at the Shanghai Grand Theatre.
Crowding Li Na for the award will be world no. 1 Serena Williams of the United States; New Zealand's world and Olympic shot put champion Valerie Adams; Norway's three-time gold medalist at the 2014 Sochi Winter Games, skier Marit Bjorgens; Slovenian skier Tina Maze; and Ethiopian runner Genzebe Dibaba who broke three world records in two weeks last year.
Candidates for the Sportsman of the Year are Portugal's Cristiano Ronaldo, winner of the Ballon d'Or and World Player of the Yea; Great Britain's Lewis Hamilton, a two-time Formula One world champion; Serbia's tennis star Novak Djokovic; Northern Ireland's world No. 1 golfer Rory McIlroy; Frenchman Renaud Lavillenie, the pole vault world record holder; and Spanish motorcyclist Marc Marquez, the MotoGP champion.
Vying for team of the year are European Ryder Cup golf team; Germany's men's soccer team; Germany's Mercedes F1 team; United States' San Antonio Spurs, the NBA champions; Spain's Real Madrid football team; and the Swiss Davis Cup tennis team.
China has had three Laureus winners before, with basketball icon Yao Ming and 110-meter hurdler Liu Xiang winning the Newcomer of the Year award in 2003 and 2005; while China's 2008 Olympic team took the World Team of the Year award in 2009.