The awards, which are based solely on actual performance on the Billboard weekly charts, will be handed out on Dec. 4 at the MGM Grand Garden Arena in Las Vegas.
The ceremony will air at 8 p.m. on Fox and will feature performances by Janet Jackson, Fergie, The Killers, Gwen Stefani, The Fray, Mary J. Blige, Ludacris, Pharrell and Young Jeezy.
Although Britney Spears and Paris Hilton were rumored to be hosting the show, a publicist for the network told TheShowbuzz that nobody has been confirmed to host.
Tony Bennett will receive the Century Award for his contribution to recorded music over several decades.
The artist of the year category includes Chris Brown, Nickelback, and Rascal Flatts
Brown, who is 17 years old, is a finalist in three categories as is Sean Paul.
R&B/Hip-Hop dominates the top male artist category with Brown, Ne-Yo and Sean Paul competing, as well as the top female category with Beyonce, Mary J. Blige and Rihanna going head to head for the award.
Nickelback, The Pussycat Dolls and Rascal Flatts are up for duo/group of the year.
Other finalists in multiple categories include Carrie Underwood, Ne-Yo, Jamie Foxx, Kenny Chesney, and Red Hot Chili Peppers. Each is competing in four categories.
2006 BILLBOARD MUSIC AWARDS FINALISTS
Mary J. Blige
The Pussycat Dolls
"All the Right Reasons" — Nickelback
"High School Musical" — Soundtrack
"Some Hearts" — Carrie Underwood
"Bad Day" — Daniel Powter
"Promiscuous" — Nelly Furtado featuring Timbaland
"Temperature" — Sean Paul