Gyan, who was recruited by Wearsiders' boss Steve Bruce after an impressive World Cup showing for Ghana, has been in sparkling form of late, netting four goals in his past three starts - including one in Sunderland's shock 3-0 victory over Chelsea.
After a slow start to life in the north east, Gyan is now starting to recreate the form that made him such a hit for the Black Stars in South Africa and is looking better value for the club-record £13 million that Bruce forked out for him in August
Joining Gyan on the shortlist is Spurs' wing wizard Bale, whose star has continued to rise in recent weeks.
The Welshman began the month with a virtuoso Champions League display against Inter and has carried that form into the Premier League, with a match-winning brace against Blackburn and a stunning finish in his side's dramatic victory over Arsenal among his November highlights.
Liverpool striker Fernando Torres also finds himself on the November shortlist after finally finding his feet following a difficult six months, in which injuries have greatly affected his form.
He has been instrumental in the Reds' mini-revival of late, scoring both goals in the 2-0 victory over Chelsea and the opener in the 1-1 draw at Wigan.
Last month's ESPN PFA Fans' Award winner Samir Nasri will have a shot at retaining his crown, after continuing to wow the Emirates faithful in November with his exquisite passing, excellent vision and eye for a goal.
Manchester United climbed level on points with Premier League leaders Chelsea last weekend and though they are still flattering to deceive at times, the exciting displays of Nani have been a consistent feature of their unbeaten start to the season.
The Portuguese winger's lively performances over the past month have earned him a place as the fifth player in contention for the November award.
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ESPN PFA AWARD SHORTLIST - NOVEMBER
Asamoah Gyan (Sunderland)
Gareth Bale (Tottenham)
Fernando Torres (Liverpool)
Samir Nasri (Arsenal)
Nani (Manchester United)
Adel Taarabt (QPR)
Lewis McGugan (Nottm Forest)
Luciano Becchio (Cardiff)
Jay Bothroyd (Cardiff)
Scott Sinclair (Swansea)
Neil Mellor (Sheff Wed)
Josh McQuoid (Bournemouth)
Ashley Barnes (Brighton)
Adam Lallana (Southampton)
Anthony Pilkington (Huddersfield)
Craig Davies (Chesterfield)
Kevin betsy (Wycombe)
Adam Le Fondre (Rotherham)
Mike Jones (Bury)
Mark Wright (Shrewbury)