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The New Zealand Events Association announced the finalists last week.
The World Shearing and Woolhandling Championships is a finalist in the Best International Event category, while ILT Stadium Southland, where the event was held, is a finalist in the Best Industry Supplier for an Event award.
The shearing event, which has been floated as the best World Shearing and Woolhandling Championships in its 40-year history, provided a boost to Southland's economy of more than $6.5 million.
An economic impact report compiled by Venture Southland revealed an economic benefit of $6.78 million-$7.48 million to Southland.
A total of 12,607 paying spectators attended the four-day competition, including sellout crowds on the two final evenings.
The event being named a finalist in the New Zealand Event Awards had been the cream on the cake, New Zealand Shearing Foundation chairman Tom Wilson said.
''It's very humbling just to make the final. When you look at the events which have won this award previously and the standard of this year's finalists, it's a great endorsement of all the hard work by the hundreds who made the World Championships the event it was,'' Mr Wilson said.
''We put our name forward to recognise all the support we received from the ILT Stadium team, the shearing fraternity, the public, sponsors and funders. And, just like competing at World Champs, once you make a final, anything can happen.''
New Zealand Events Association chairwoman Andrea Scotland was delighted to congratulate the finalists.
''Our finalists have pushed boundaries ... in dynamic and innovative ways. Year on year we are seeing a sustained growth in terms of the level of awards applications ... ''
Other finalists in the International Event category are the 2016 Aon Youth Sailing World Championships, Crankworx Rotorua 2016, the Royal New Zealand Navy's 75th Anniversary International Navy Review and SingularityU New Zealand Summit.
The stadium is a finalist alongside Event Solutions NZ Ltd for Bidfood Shows 2017 and La Lumiere for Christmas Lights, MOTAT Nights 2016.
The category winners will be announced at a gala dinner at SkyCity in Auckland on October 11.
-The World Shearing and Woolhandling Championships is also up for the People's Choice Award which people can vote for online at www.eventfinda.co.nz/news/2017/09/vote-for-nzs-favourite-event