The Baroka FC goalkeeper will go against Deyna Castellanos and Olivier Giroud for the award.
The final three nominees for the 2017 Puskas Award for the best goal scored over the past year have been confirmed.
FIFA has released the final shortlist of three nominees for the 2017 FIFA Puskas Award.
Mamelodi Sundowns captain Hlompho Kekana was nominated for the Puskas Award in 2016 with a long-range screamer for Bafana Bafana against Cameroon, but Malaysian Mohd Faiz Subri got the nod.
Many local soccer fans felt Masuluke was robbed when he was beaten by a long curler by Simphiwe Tshabalala of Kaizer Chiefs for the PSL's Goal of the Season of the last campaign.
The gong recognises the best goal of the last 12 months and will be among the awards dished out at the Best FIFA Awards later this year.
Federation Internationale de Football Association unveiled a list of 10 nominees in September, which was whittled down to a final three n October 9.
The award is given to the player (male or female) who scores the "most beautiful" goal of the year and it is named in honor of Hungary and Real Madrid legend Ferenc Puskas.