Players have until the end of the month to vote on the awards.
McIlroy is the clear favorite after leading the tour with four wins, including an eight-shot victory at the PGA Championship. He also won the Vardon Trophy and the money title.
The five candidates for rookie of the year are John Huh, Jonas Blixt, Charlie Beljan, Ted Potter Jr. and Bud Cauley, the only rookie not to win this year. Huh is favored as the only rookie who qualified for the Tour Championship.
Beljan made news this past weekend by overcoming a panic attack that required hospitalization to win the Children's Miracle Network Hospitals Classic for his first PGA Tour victory.
Information from The Associated Press was used in this report.