Aged just 17, Holsgrove is the youngest nominees after excelling for Reading in PL2 Division 1.
Although Reading lost to Tottenham Hotspur and Liverpool, Holsgrove stood out from attacking midfield and the Royals have high hopes for their Scotland youth international who signed professional terms last month.
McBurnie enjoyed another productive month as he helped Swansea clinched the Premier League 2 Division 2 title.
The 20-year-old scored his ninth and 10th PL2 goals of the season to help the Swans guarantee promotion with a 1-0 win over West Bromwich Albion and a 2-2 draw against Wolverhampton Wanderers.
With five senior Premier League appearances this season Ngoy showed further proof of his quality in front of goal with strikes in each of his Premier League Division 2 outings for Stoke City, against Norwich City, Wolverhampton Wanderers and West Ham United.
February Liam Walsh (Everton)
January Oliver McBurnie (Swansea City)
December Jonathan Leko (West Brom)
November Josh Sims (Southampton)
October Paolo Fernandes (Man City)
September Rushian Hepburn-Murphy (Aston Villa)
August Ethan Robson (Sunderland)