The Award, won last year by Paul Weller's Wake Up The Nation, is intended to reward the best album over the last 12 months.
The magazine has drawn up a shortlist of eight albums and a panel, led by editor Allan Jones, will decide the eventual winner. Last year's panel included Wild Beasts front man Hayden Thorpe, broadcaster Bob Harris and BPI chairman Tony Wadsworth.
The winner will be announced in the new issue of Uncut, which hits UK newsstands on November 27. The full transcript of the judging panel's discussions will also be published on Uncut.co.uk.
Previous winners of the award include Weller, Tinariwen and Fleet Foxes.
The full shortlist for the 2011 Uncut Music Award is:
Bill Callahan - Apocalypse
Fleet Foxes - Helplessness Blues
PJ Harvey - Let England Shake
Bon Iver - Bon Iver
Josh T Pearson - Last Of The Country Gentlemen
Radiohead - The King Of Limbs
Paul Simon - So Beautiful Or So What
Gillian Welch - The Harrow & The Harvest