The band, whose guitarist Noel Gallagher quit last month, have been shortlisted for the “best act in the world today” gong at the Q Awards, against Kings Of Leon, Arctic Monkeys, Coldplay and Muse.
Oasis will also compete for the best live act award at the event next month, against acts like U2, Blur and Take That.
Noel and brother Liam have been invited to the event, organised by Q magazine at the Grosvenor House Hotel, but they have both kept a low profile since their increasing rift led to Noel quitting just moments before a gig in Paris.
U2 have also been nominated in the Best album category for No Line On The Horizon. They will be up against the Arctic Monkeys, Florence & The Machine, The Prodigy and Kasabian.