Peter Cleverley's painting Fortune Teller.
The awards are among the most lucrative in New Zealand. The winners will be announced at a function in Auckland on September 7.
Mr Cleverley has also been shortlisted for the Fulbright Wallace Arts Trust Award.
He has completed a residency at Weston School, as part of the Artists in Schools programme, and returns to work lecturing at the Otago Polytechnic School of Art, in Dunedin, on Monday.