The 26-year-old's strike against Hull City in the English Championship is among the four nominated for September's award.
Liam Moore's goal against Sheffield Wednesday, Sam Baldock's effort against Preston North End and Jon Dadi Bodvarsson's strike against Hull are the other contenders.
The winner of the award, which is set to be decided by votes, will be announced on September 10 after the voting process ends on Monday.
Yiadom has been in good form for Reading since transferring from Barnsley in the summer.
The English-born has so far made 10 Championship appearances - all starts - for The Royals.
On Saturday, he lasted for the entire duration of a 2-2 away draw with Brentford.
He was once on the books of lower division sides Braintree Town and Hayes and Yeading FC.
Source: Goal.com