Sebastian Vettel scored 392 points with as many as 11 wins, 15 pole position, 3 fastest lap and 17 podium finishes. Drivers champion Red Bull Racing team too had a wonderful season with 12 victories from 19 races and scoring 650 points.
Chasing Vettel for the "Sportsman of the Year" award are Jamaican sprinter Usain Bolt, tennis world no.1 Novak Djokovic, Tour de France winner Cadel Evans, footballer Lionel Messi and basketballer Kirk Nowitzki.
And fighting it out hard with Red Bull Renault for the team prize are New Zealand's All Blacks, England cricket team, basketball's Dallas Mavericks, FC Barcelona and Japan's female football team.
The nominees are selected by the world's media by ballot method, and the winners by a jury made up of 47 of the greatest sportsmen and women of all time.
The winners will be crowned in London in February.
"This has been a great year for sport and the academy are going to find it extremely difficult to decide who to vote for as winners," said chairman of Laureus World Sports awards, Edwin Moses.